ASTM International - ASTM E2137-06(2011)
Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters
|Publication Date:||1 July 2011|
|ICS Code (Other standards related to environmental protection):||13.020.99|
significance And Use:
Use-The standard is intended for use on a voluntary basis by an estimator of costs and liabilities for environmental matters. The user may elect to apply this standard for any or all uses outlined... View More
Use-The standard is intended for use on a voluntary basis by an estimator of costs and liabilities for environmental matters. The user may elect to apply this standard for any or all uses outlined in the Purpose. Application of this standard for one use does not compel application of the standard for all or any other use.
Principles-The following principles are an integral part of this standard and should be used to resolve ambiguity or dispute regarding the interpretation of estimated costs and liabilities for environmental matters.
Uncertainty Not Eliminated-Even though an estimate of costs and liabilities for environmental matters is prepared in accordance with this standard, uncertainty remains with regard to, among other things, the resolution of contractual, technological, regulatory, legislative, and judicial issues, which could affect the costs and liabilities.
Periodic Review of Assumptions and Estimates-Assumption
Comparison with Subsequent Estimates-Subsequent
Assessment of Risk-The actual or potential risk to human health and the environment should be considered in assessing environmental matters. The degree of risk should be a factor in developing the cost and liability estimates associated with those matters.
Estimator Selection-An appropriate estimator or group of estimators will consist of those individuals or groups who possess sufficient knowledge, training, and experience to develop appropriate estimates for the costs and liabilities being estimated. It is the responsibility of the entity sponsoring the cost and liability estimates to select an estimator with the appropriate level of knowledge, training, and experience for the parts of the estimation effort for which that estimator is responsible.View Less
1.1 Purpose-The purpose of this document is to provide a standard guide for estimating costs and liabilities for environmental matters. Many possible uses for estimates of costs and liabilities for environmental matters exist, including but not limited to business decision making, communications and negotiations involving change of property ownership, regulatory requirements, third-party lawsuits, insurance premium calculation and claim settlement, change of property use, revitalization, compliance planning, construction, analysis of remedial alternatives, budgeting, strategic planning, financing, and investment analysis by shareholders. The use of estimated costs and liabilities developed in accordance with this standard may be subject to other standards applicable to the matter involved. For example, it is not intended to supersede accounting and actuarial standards including those by the Financial Accounting Standards Board and the U.S. Security and Exchange Commission. This standard does not address the establishment of reserves or disclosure requirements.
1.2 Objectives-The objective of this standard is to provide guidance on approaches for estimating costs and liabilities for environmental matters.