You asked: What is a rec recognized environmental condition?

To summarize, a Recognized Environmental Condition is a historical or existing occurrence of a hazardous substance on a property, that either indicates there’s a release into the environment, exposes a threat to the environment, or actually is polluting the environment.

What is considered a recognized environmental condition?

A Recognized Environmental Condition (a REC) is “the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property: (1) due to any release to the environment; (2) under conditions indicative of a release to the environment; or (3) under conditions that pose a material threat of …

What does rec mean in environmental?

The question arises because the term “REC” (short for “Recognized Environmental Condition),” is the terminology used by environmental consultants in “Phase I Environmental Site Assessments” (Phase I) to identify environmental risks on properties to be sold, purchased, or financed.

What is an REC in a Phase I report?

A Recognized Environmental Condition, or REC, is a term used in a Phase I ESA report to identify a particular, potential environmental impairment on a property.

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What is an REC report?

Simply stated, a REC, short for “Recognized Environmental Condition,” is the terminology used by the environmental consultant in its Phase I Report to identify a particular, potential environmental impairment on the property.

What are examples of environmental conditions?

Environmental Conditions means the state of the environment, including natural resources (e.g., flora and fauna), soil, surface water, ground water, any present or potential drinking water supply, subsurface strata or ambient air.

Is mold a recognized environmental condition?

Just petroleum products or hazardous substances. And, those hazardous substances are explicitly defined as hazardous substances as identified by various environmental acts, such as the Clean Water Act. Meaning, something like mold isn’t included.

What is a controlled REC?

The term CREC, or “Controlled REC” refers to a REC with past releases that have been addressed, but where contamination still remains and is subject to the implementation of required activity use limitations (AULs) such as institutional or engineering controls.

Is Asbestos considered a recognized environmental condition?

Asbestos is a condition outside the scope of ASTM E1527-13 and is not considered a recognized environmental condition (REC).

What is an example of environmental impact?

In other words it is the effect that people’s actions have on the environment. … For example, when volatile organic compounds are released into the environment, the effect or impact is pollution in the form of smog, in this case being negative.

What is the purpose of a Phase 1 ESA?

Identifies potential or existing environmental contamination liabilities. A Phase I Environmental Site Assessment, commonly referred to as an ESA, or Phase I ESA, is completed to research the current and historical uses of a property as part of a commercial real estate transaction.

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What is rec power?

A renewable energy certificate (REC) is a tradeable, market-based instrument that represents the legal property rights to the “renewable-ness”—or all non-power attributes—of renewable electricity generation.

What is a business environmental risk?

Business Environmental Risk is defined by ASTM as “a risk that can have a material environmental or environmentally-driven impact on the business associated with the current or planned use of commercial real estate, not necessarily related to those environmental issues required to be investigated in this practice.

How do renewable energy credits RECs work?

Renewable Energy Certificates (RECs) are a market-based instrument that certifies the bearer owns one megawatt-hour (MWh) of electricity generated from a renewable energy resource. Once the power provider has fed the energy into the grid, the REC received can then be sold on the open market as an energy commodity.

What is a BER in an environmental report?

Business Environmental Risks (BERs)

How does renewable energy certificates work?

Renewable Energy Certificates, known as RECs, are market-based instruments that endorse units of electricity generated by renewable energy sources. Each REC represents the clean energy attributes of one megawatt-hour (MWh) of renewable electricity.