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Environmental Liability Risk Assessment

Environmental Liability Risk AssessmentMost EPA licensed facilities are now required by the EPA to conduct Environmental Liability Risk Assessment (ELRA) as part of their licence compliance. An Environmental Liability Risk Assessment considers the unknown environmental risks for unplanned events occurring during the operation of a facility.

The EPA are presently updating the requirements for ELRA, and the new guidance will replace the 2006 Environmental Liabilities Guidance document. The EPA has issued, ‘Guidance on Assessing and Costing Environmental Liabilities’ in 2014, which includes the following changes to EPA licensed sites:

  • >  The Environmental Liability Risk Assessment process, particularly regarding costings and the provision of example risks will be amended.

  • > Greater definition of the approach for identifying and costing closure and restoration/aftercare.

  • >  The unit cost rates for calculating ‘known’ and ‘unknown’ liabilities costs will be updated.

  • >  It is also expected that the EPA will issue separate updated guidance on financial provision in due course.

REC can ensure that your company is prepared for the updated ELRA requirements and can assist you in preparing future ELRA reports. For more information on Environmental Liability Risk Assessment, and how we can assist you, please contact us.