Navigating the E1527-21 ASTM transition: Expert insights & perspectives

In November 2021, the American Society for Testing and Materials (ASTM) Committee on Environmental Assessment, Risk Management and Corrective Action approved a new standard, E1527-21, for conducting Phase I Environmental Site Assessments (ESAs), modifying the earlier version, E1527-13. The revisions provide clarification and guidance on various aspects of conducting Phase I ESAs, including historical research, documentation, REC determinations, shelf life and the consideration of emerging contaminants. The industry is in an important “grace period” from now until the U.S. EPA recognizes E1527-21 as AAI-compliant.

Watch the replay for answers on:

• What aspects of the new standard are welcome changes from the lender perspective?
• What changes to Phase I ESA reports do lenders expect to see?
• Are changes to pricing and turnaround time expected?
• What should EPs be doing now to train their staff? 
• Should today’s reports reference -21 in advance of EPA’s notice?