The America Society for Testing and Materials (ASTM) released an update to its Phase I Environmental Site Assessment (ESA) Standard on November 1, 2021.
The America Society for Testing and Materials (ASTM) released an update to its Phase I Environmental Site Assessment (ESA) Standard on November 1, 2021. This update is part of ASTM’s 8-year cycle for changes to the Standard, the last update was made official in 2013. This new Standard (1527-21) has not yet been adopted by the United States Environmental Protection Agency (USEPA) through official rulemaking as meeting its All Appropriate Inquiry (AAI) Rule as outlined in 40 CFR Part 312. Regardless, prospective buyers, lenders, owners, and lessee’s of Real Property relying on environmental due diligence protection under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) of 1980 should be aware of the new ASTM Standard 1527-21. This new standard will most likely be adopted by the USEPA sometime in 2022 as meeting its AAI Rule. The new ASTM Standard contains several changes from the prior ASTM Standard (1527-13); however, the changes do not represent a significant alteration to the way environmental due diligence is to be conducted. If you rely on environmental due diligence in your property transactions please contact ARM Group LLC to discuss the Phase I ESA process and the ASTM Phase I ESA Standard update today!
