Since October 2018 (Law 26/2007), companies must have a financial guarantee to enable them to meet the environmental liability inherent to the activity they carry out.
This Law establishes that the amount of the financial guarantee will be determined on the basis of an Environmental Risk Analysis of the activity. The steps for the constitution of the mandatory financial guarantee are as follows:
– Identify accidental scenarios and establish probability of occurrence.
– Estimate an associated environmental damage index.
– Calculate the risk associated with each accidental scenario
– Selecting scenarios with the lowest index that pool 95% of the total risk.
Once the financial guarantee for environmental risks has been established, damage prevention costs are estimated. This analysis makes it possible to monetise the environmental damage and, where appropriate, to constitute the financial guarantee required by law. It is important not to confuse the fact that having environmental liability insurance does not exempt you from carrying out the environmental risk analysis.
Un riesgo ambiental es todo daño o catástrofe potencial en el medio ambiente producida por un fenómeno natural o una acción antrópica. En el riesgo medioambiental se pueden distinguir dos parámetros como prioritarios a los que se debe prestar especial atención. Por un lado, encontramos la frecuencia o probabilidad de que estos riesgos ocurran. Por otro lado, encontramos la gravedad del suceso en cuestión.
Se considera daño ambiental los realizados sobre especies silvestres, hábitats, aguas subterráneas, ribera del mar, rías y los daños al suelo, entre otros.
The steps for the establishment of the mandatory financial guarantee are:
1/ Identify accidental scenarios and establish probability of occurrence
2/ Estimate an index of associated environmental damage 3/ Calculate the risk associated with each accidental scenario
3/ Calculate the risk associated with each accidental scenario 4/ Select scenarios with the lowest index that group together 95% of the total risk.
Once the financial guarantee for environmental risks has been established, the damage prevention costs are estimated.
This analysis makes it possible to monetise the environmental damage and, where appropriate, to constitute the financial guarantee required by law. It is important not to confuse the fact that having environmental liability insurance does not exempt you from carrying out the environmental risk analysis.
An environmental risk is any potential damage or catastrophe in the environment caused by a natural phenomenon or anthropogenic action. In environmental risk, two parameters can be distinguished as priorities to which special attention should be paid. On the one hand, we find the frequency or probability of these risks occurring. On the other hand, we find the severity of the event in question.
Environmental damage is considered to be damage to wild species and habitats, damage to water, the seashore and estuaries and damage to soil.
According to the Environmental Liability Act 26/2007, all organisations are obliged and responsible to pay attention in advance to the possible environmental damage that the exercise of their economic activity may cause. This means that they must pay special attention to the probability of occurrence, the extent of the damage, and an economic assessment of the different measures in case of occurrence.
This analysis must be carried out following the requirements and methodology established by the UNE 150008 Standard, designed exclusively for this purpose, or by any other reference standard that meets the standards required in the former and uses a technical and scientific analysis system.
CONTACT OUR ENVIRONMENTAL CONSULTANCY
We quantify the cost of repairing possible environmental damage in the event of an accident.
Environmental risk analyses allow companies to know their risks and effects on the environment that the development of their activity entails, thus facilitating knowledge and support for minimising and eliminating them as a risk.
Nowadays, there are many companies that consider the environment as an added factor to their production, which is fundamental for the sustainable development of business activities and the social positioning of the entities. The main benefits of carrying out an environmental risk assessment are as follows:
Euro-Funding collaborates with companies in defining the risks associated with their activity by quantifying the cost of repairing the possible environmental damage that would be caused in the event of an accident, following the UNE 150.008 Standard on Environmental Risk Analysis and Assessment or equivalent standards.
This allows us to determine whether the installation is eligible for the exemptions provided for:
At Euro-Funding we have been preparing and supporting our clients in obtaining a financial quantification since the beginning of the obligation, with proven experience in companies that are SEVESO operators carrying out different activities such as the manufacture of cleaning products, basic chemical products, pharmaceutical products, biodiesel manufacture, pig and poultry farms, among others. In addition, the team has been managing environmental projects for more than 25 years.
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