Environmental Compliance Audits: Five Tips To Protect Your Company

With growing attention on Environmental, Social and Governance initiatives and escalating penalties for non-compliance with environmental laws,¹ it is all the more important for companies to ensure compliance with environmental regulatory requirements. One way your company can satisfy stakeholders while appropriately managing risks of potential enforcement is to conduct a regular Environmental Compliance Audit ("ECA".) In this article we discuss the key features of ECAs and their rising importance in managing your company's environmental compliance and risk.

1. What are ECAs and why are they important?

ECAs assess compliance with environmental legal requirements.² This differs from other environmental assessments such as Phase I and Phase II studies, which are generally more focused on evaluating the presence of contamination above regulatory standards (and which are typically conducted for pre-purchase due diligence or for the purposes of applying