The EPA adopted an updated standard of practice for Phase I Environmental Site Assessments on December 15, 2022. The updated standard adds more refined investigation and reporting requirements for parties seeking protection from environmental liability in land transactions.
The U.S. Environmental Protection Agency (“U.S. EPA”) has revised the standards by which real property purchasers, lessees and environmental professionals should conduct a Phase I.
On December 15, 2022, EPA issued a final rule amending the All Appropriate Inquiries Rule (AAI Rule), 40 CFR part 312, to recognize the updated ASTM International standard for.
EPA amended its All Appropriate Inquiries Rule to include ASTM International’s E1527 21 Standard Practice for Phase I Environmental Site Assessment Process. Effective February 13, 2023, this allows those conducting due diligence to use standard E1527 21 to meet AAI under CERCLA.
Environmental Protection Agency approved the use of the American Society for Testing and Materials E1527 21 Standard Practice for Phase I Environmental Site Assessments. It will become effective February 13, 2023 and the previous standard will be phased out over one year.