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Environmental, Social, Governance: The Professional's Guide to the Law and Practice of ESG
This panel will discuss emerging trends in addressing actual and potential PFAS liability in the course of real estate transactions.
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Closed Captioned.
This panel will discuss potential PFAS-related issues associated with real estate and other transactions, with a focus on how parties have approached Phase I Environmental Site Assessments since EPA's December 2022 adoption of a new ASTM standard that considers emerging contaminants for the first time. In 2022, EPA proposed, then finalized, an amendment to its All Appropriate Inquiries Rule to reference the new ASTM standard, which becomes the only standard on February 13, 2024, with ASTM-13 and ASTM-21 both being allowable standards until that date. The new standard states that assessment of PFAS may be included as an out-of-scope item if the user requests that it be included in a Phase I ESA, but, until EPA finalizes a rule that lists PFAS as CERCLA hazardous substances, their inclusion is not necessary. Panelists will also discuss how parties have handled potential liabilities relating to PFAS contamination in purchase and sale agreements, lending agreements, and other transactional documents, such as managing the risks associated with PFAS using third parties. The discussion will also include best practices to reconcile risk when State and Federal rules are different. The panel will feature an environmental consultant and private attorneys with experience addressing potential PFAS liabilities in the course of real estate transactions.
NR2310PFW4OLC
90
11/6/2023 12:00:00 AM
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