Three of PM Expert's give a quick take on whether the proposed changes to the EPA and rollback of regulations by the Trump administration will affect Environmental Due Diligence.
John W. Hargraves, P.G., Regional Manager - Brownfield Group / Senior Geologist:
"I don’t think the proposed changes to the EPA structure and emphasis will change how our clients conduct environmental due diligence. The due diligence is performed primarily to complete financial and liability components of a deal. Lenders will still require the studies, as well as any state regulatory oversight that may be involved. As far as the changes proposed to the federal budget, we are all taking a 'wait and see' attitude. Ultimately, Congress sets the budget, not the President."
Michael T. Kulka, P.E., Founder and CEO:
"Even if Trump abolished the EPA, the states would not gut their regulations and no bank/developer/corporate America company is going to change how they evaluate risk considering the fact that you could have a totally new administration in four years that hits reset again."
Stephen Zayko, P.E., Q.C., Manager - Technical Services / Senior Engineer:
"Lenders drive the bus for the Phase I and due diligence market. While the potential threat of an enforcement action from EPA may be diminished, other drivers (state regulations, Industrial Hygiene concerns, or potential litigation) for Phase I and due diligence will likely remain for a while. The Phase I/due diligence market will be affected more by the general economic climate of the US than by the changes in EPA policy."