ENV-01-17 Using Third Party Assumption of Environmental Liabilities to Manage Financial Risk

Description:

This paper explains the emerging use of fixed price, environmental liability transfers (1) to clean up individually-owned refineries, pipelines, and other petroleum facilities; (2) to facilitate mergers and acquisitions; and (3) to reduce the costs and risks associated with Superfund, Brownfield, and other contaminated sites. With over 35 years experience in the environmental field (including service to several major petroleum companies), TRC -- a national and publiclytraded company -- is now helping its clients clean up over 30 sites through its liability transfer program. These include the first (and only) multi-party liability transfer at a Superfund Site; the largest Brownfields Project in the U.S.; and numerous facilities that were the subject of mergers and/or acquisitions.