This fall ASTM International announces environmental assessment, risk management and corrective action committee (E50) has revised its standard practice for Phase I environmental site assessments (E1527). 

“Phase I environmental site assessments (ESAs) aid in the underwriting of mortgage loans and inform prudent risk management and business decision-making,” says Jim Bartlett, senior vice president with Bureau Veritas and ASTM committee officer. “Nearly all Phase I ESAs are performed in accordance with this ASTM standard practice.” 

According to Bartlett, Phase I ESA’s facilitate commercial property transfers that satisfy the U.S. Environmental Protection Agency (EPA) All Appropriate Inquiries Rule, as defined by the US federal Superfund law (CERCLA), and 40 CFR Part 312.  

First published in 1993 to define “good commercial and customary practice” for conducting ESAs, this latest revision was approved Nov. 1, 2021, and represents over three years of ongoing collaboration and consensus-building by more than 150 industry professionals. 

Jim Bartlett, Sr. VP of Bureau Veritas, Co-Chairman of the WK74022 Task Group and Vice Chairman of Subcommittee E50.02, encourages industry stakeholders to join the WK74022 group. “Phase I environmental site assessments (ESAs) aid in the underwriting of mortgage loans and inform prudent risk management and business decision-making,” says Jim Bartlett, senior vice president with Bureau Veritas and ASTM committee officer. “Nearly all Phase I ESAs are performed in accordance with this ASTM standard practice.”  

Bureau Veritas provides building assessment, project management, and related solutions that foster confidence in real estate transactions and asset management through the lifecycle of properties.  
 

• Property Condition Assessments (Transactional)
• Facility Condition Assessments  (Asset Managment)
• ADA & Accessibility Surveys  & Consulting
• Capital Expenditure Planning
• Equipment Inventory & Tagging
• Preventative Maintenance Programs
• Drone Technology
• Paving Evaluations
• Roof Assessments
• Environmental Site Assessments
• ALTA Surveys & Zoning
• Water Intrusion Assessments
• Storm Assessment Restoration
• Seismic Risk Assessments

If you would like more information on E3026 Moisture Assessments, or are interested in participating in the WK74022 Task Group, contact Jim Bartlett (jim.bartlett@bvna.com).

CONTACT US FOR MORE INFORMATION!