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SPOTLIGHT: How The New ASTM Standard Affects You

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SPOTLIGHT: How The New ASTM Standard Affects You

AEI Consultants EVP of due diligence services Orion Alcalay serves on the American Society for Testing and Materials (ASTM) Task Group Committee and tells us a change has occurred. ASTM approved revisions to the E1527 Phase I Standard, which affects the way Phase I environmental site assessments (ESAs) are completed (and how lenders and prospective purchasers assess risk on their assets). The reasons: provide greater consistency among Phase I reports; consider the migration of contamination within soil vapor; and highlight sites which have formal/informal environmental controls in place that protect properties and its inhabitants. This new ASTM standard E1527-13 became publicly available on Nov. 6, and the EPA is expected to adopt and provide final ruling by the year's end. Find more on our sponsor, AEI Consultants here. To learn more about the specific revisions, click here.

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