Environmental risks and liabilities

Environmental risks

What is an environmental risk?

An environmental risk is a combination of the probability, or frequency, of occurrence of a defined hazard and the magnitude of the consequences of the occurrence.

Environmental risks encompass a broad range of environmental issues both natural and human induced, including issues such as:

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land contamination
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air pollution
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water pollution
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flooding
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asbestos
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exposure to hazardous substances
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subsidence and sinkholes

Environmental risk assessment

Environmental consultants and other technical experts can advise if particular environmental or safety risks are likely to lead to harm to the environment or human health. The risk assessment can also advise whether there is a risk of legal or contractual liabilities or any requirements for capital expenditure. See Practice Notes:

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Environmental risk—environmental risk assessment
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Contaminated land—risk assessment
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Contaminated land—category 4 screening levels
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Flooding—flood risk assessment

Identifying environmental risks and liabilities

The process of identifying risks and potential liabilities can be undertaken for several purposes, including:

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due diligence in connection with corporate, property and banking transactions
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compliance with environmental law, permits and planning obligations
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environmental

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