Reducing Environmental Risk

Environmental liability is a risk many modern businesses face

On Behalf of | Aug 4, 2023 | Environmental Due Diligence

In today’s world, all types of businesses, from small to large, face increasing scrutiny over their effect on the environment. Some of the reasons for this scrutiny include:

  • Greater awareness of the environmental impact of business activities
  • Increasingly strict environmental regulations
  • Rising costs of environmental cleanup

As a result, businesses must be aware of their environmental liability risks and take steps to mitigate them. Otherwise, they may face harsh and expensive consequences from environmental regulators.

What can business owners do to reduce their liability?

An ideal first step in reducing environmental liability is to identify your risks. For example, determine whether your operations are damaging the environment. Areas to consider include the use (and disposal) of hazardous materials like pesticides, solvents and chemicals.

Once you have identified possible sources of environmental harm, consider taking these steps to reduce your liability even more.

Implement environmental management systems (EMS). These systems may reduce liability by providing a framework for managing environmental compliance and performance.

Train your employees. Ensure that your employees know about the environmental regulations that apply to your business and how to comply with them.

Document your efforts. Doing so can help you demonstrate your compliance with environmental regulations in the event of an incident.

Consider environmental liability insurance. Such a policy could protect your operations from financial losses that may arise due to environmental damage.

Build a legal team. Having a knowledgeable person guide you through the ins and outs of New York environmental law can do much to safeguard your company.

These steps can lead to efficient business operations that do not harm the environment or open the door to legal problems.



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