In brief
- Mandatory for the activities listed in Annex III of Law 26/2007.
- It is used to set the monetary value of potential damage to the environment.
- We first propose corrective measures and then quantify the risk.
- We support you through verification and, where applicable, in arranging the financial guarantee.
What is it and who has to do it?
Law 26/2007 of 23 October on Environmental Liability regulates companies' obligation to prevent, avoid and remedy environmental damage. It imposes additional obligations on the activities listed in its Annex III, including the preparation of an environmental risk assessment.
The purpose of the assessment is to determine the monetary value of the damage the activity could cause to the environment.
How we do it
- Phase 1. Identification and corrective measures
We visit your facilities, identify the initiating events of possible accidents, their causes and the resulting events, and deliver a report with corrective measures to reduce the likelihood of an environmental accident or its consequences. - Phase 2. Risk quantification
We assign each event a probability of occurrence in line with current protocols and legislation, assess the magnitude of the consequences for the physical and biotic environment, define the causal scenarios and estimate the risk of each one from its probability and severity. - Phase 3. Verification and financial guarantee
We submit the report, assist you with verification of the assessment and advise you on arranging the financial guarantee where it applies.
What your company gains
- A single adviser on environmental liability, from the risk assessment through to the financial guarantee.
- A phased approach that lets you apply corrective measures before the damage is quantified.
- Cost savings: where possible, the mandatory financial guarantee is avoided or its amount reduced.
Other environmental liability services
- Preliminary studies to reduce the environmental risk of affected companies.
- Advice on regulatory developments: ministerial orders, standard environmental risk report models (MIRAT) and sector guides.
Frequently asked questions
Do all companies have to carry out an environmental risk assessment?
No. The obligation applies to the activities listed in Annex III of Law 26/2007.
Is a financial guarantee always required?
Not always. It depends on the outcome of the assessment. Applying corrective measures before quantification can avoid the guarantee or reduce its amount.
Why are corrective measures proposed before quantification?
Because if they are applied first, the probability or severity of the events falls, and with it the risk calculated in phase 2.