Environmental Audits

The Issues

The constant discovery of environmentally contaminated industrial and commercial sites, coupled with the rising costs of cleanup, make it prudent and in some cases necessary to investigate the environmental condition of a property while in operation as well as before acquisition or divestiture.

In fact, regular environmental audits are a critical component of a corporate "due diligence" defense.

The Implications

New regulations and guidelines such as the Guidelines For The Cleanup Of Contaminated Sites In Ontario are beginning to clarify liability issues surrounding contaminated sites.

Furthermore, most banks, insurance carriers and mortgage companies require environmental (due diligence) audits often times even for refinancing transactions. Both the vendor and purchaser have an interest in thoroughly investigating a property, or, if necessary, in apportioning financial liability for existing contamination in advance of the sale.

Specific services include:

• a thorough site inspection and review of available information concerning the site�s use by both present and past owners
• a review of current operating practices and environmental compliance status
• an evaluation of the surrounding land uses including the identification of nearby environmentally sensitive areas
• a review of local archives including analysis of aerial photographs

How Green-Tech Can Help

Environmental audits are designed to meet the client's specific information needs. This process assures that the audit meets all project requirements while keeping costs to a minimum.

Green-Tech implements a systematic, documented process to objectively obtain and evaluate evidence and determine whether environmental conditions conform to audit criteria. Those findings are then effectively communicated to the client both verbally and in a concise report.

Typical audit benefits include:

• identification of environmental liability;
• determining if further investigation is required;
• identification of cleanup costs; and
• revenue/asset enhancement, improved public profile and improved investor confidence.

Green-Tech works closely with its clients during the environmental audit to ensure that the audit findings are communicated quickly and accurately.