Question

What is the importance of keeping abreast of environmental laws? How does the Superfund affect purchases of property?

Answer 1

Answer: There are a number of reasons why it is important to keep abreast of the environmental laws; some of them are as follows

1. This enables the organizations to develop sustainability in their operations which helps in differentiating them from the other organizations and may help in creating a competitive advantage
2. Governments are becoming very strict and non compliance with the laws can result in the regulatory actions against the organization
3. This helps the organizations to understand the changes that are taking place in the field of environment conservation and develop better environmental strategies for the future

The purpose of the super fund program is to protect the human health and safeguard the natural environment. It requires control over the release of the hazardous substances into soil, water and air. The super fund sites are those sites which are basically polluted locations and require taking a long term action for cleaning up the contamination. This also affects the purchase of property. If a property is located near a super fund site then the purchaser need to estimate the discharge of the hazardous waste may have on your site and how it may affect your health and daily routine. This may require an assessment of the site by the EPA.