What is environmental liability?
Human activities can cause severe damage to the environment. For example, in 1998 a dam containing toxic waste from a mine burst in the south of Spain, releasing a massive wave of toxic sludge that eventually reached the Doñana Natural Park. It poisoned soil and water and killed wildlife that came into contact with it. Spanish authorities spent more than €250 million on clean-up operations, over a period of years.
Related Questions
- What facilities or vessels are covered under Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) release reporting requirements?
- When is a liability assessment based on a phase I environmental site assessment acceptable (Type C liability estimate)?
- What types of businesses confront environmental liability exposure?