What are the standards for conducting a Phase I Environmental Site Assessment?
The scope of work for the Phase I Environmental Site Assessment meets the technical requirements as stated in the American Society for Testing and Materials (ASTM) guidelines published as the Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process (Standard E 1527). The ASTM practice is intended to permit a user to satisfy one of the requirements to qualify for the innocent landowner, contiguous property owner, or bona fide prospective purchaser limitations under the CERCLA liability statute. In 2005, the ASTM released a new standard entitled “Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process” (ASTM Standard E1527-05). The purpose of this practice is to define good commercial and customary practice in the U.S. for conducting an environmental site assessment of a parcel of commercial real estate with respect to the range of contaminants within the scope of Comprehensive Environmental Response,
