From Builder’s Risk to Environmental Liability, Insurance Is Key to the Future of Brownfield Redevelopment
Source: https://riskandinsurance.com/, July 22, 2023
By: Gregory DL Morris
Environmental justice is one of the major driving forces in the rehabilitation of idle industrial sites. Such brownfield redevelopment is being championed by the Environmental Protection Agency (EPA), as well as several states.
In April of this year, for example, the New Jersey Environmental Justice Law, signed by the governor in 2020, went into effect. Under the regulations (N.J.A.C. 7:1C-1.1 to 10.3), New Jersey became the first state to require permit denials if an environmental justice analysis determines a new facility will have a disproportionately negative impact on overburdened communities when compared to neighboring communities. Read more.