What approach can you expect from WSP?
You can expect something a bit different. Our approach is to seek a strong collaborative relationship with our clients and tailored solutions to suit your needs. This sometimes includes unique and innovative methods and ensures we fully understand your business and the impact and relevance of the environmental issues you face.
With a successful track record worldwide in the remediation of contaminated sites and environmental restoration, WSP has developed a range of liability solutions to help clients manage and, where possible, transfer environmental obligations. These include Strategic Consulting, Remediation Plus, and our leading-edge proposition, 'Active Transfer'.
Active Transfer
WSP will assume responsibility for managing the known and unknown obligations associated with a site in return for an agreed one-off fee. The obligation to address the environmental liabilities and remediation of one or more sites are placed contractually into a specifically designed and focused company. This structure protects your investment and provides complete visibility of how we are managing your former liability. You choose the level of involvement you want.
Insurance provides additional protection against contamination caused by or exacerbated by a remediation contractor, remediation cost overruns, unforeseen circumstances and third party claims. WSP has over 20 years of experience working closely with insurance brokers to ensure our clients receive appropriate and best value insurance offerings. Our Active Transfer proposition is a powerful concept, protecting your brand image in the marketplace and allowing you to focus on your core business:
- For owners or developers of sites it can release capital by reducing and simplifying the financial provisions made for environmental risks.
- It can unlock real estate and corporate transactions. Active transfer enables buyers and sellers to negotiate the transfer of assets free from the cost uncertainty of historical environmental liabilities.
- For parties burdened by historic environmental legacies, it provides a walk away solution to responsibly manage environmental liabilities.
- For sites locked in multi-party disputes, Active Transfer provides clarity and a basis for resolution.
We layer the protection between our client and the risks associated with an environmentally impaired site. In a transaction, we extend the protections to both the buyer and seller.
Remediation Plus
This is similar to Active Transfer, but is limited to known environmental liabilities and a defined scope of works. Remediation Plus can be tailored to cap cleanup cost at a finite, designated area of the site, or can cover all known liabilities through a site or a portfolio of sites. It has the advantage of providing clients with certainty on costs, to the extent of a stated and fixed scope of remediation.
Strategic consulting
WSP regularly help clients increase their understanding and simplify the management of the risks they are facing by:
- Estimating and managing environmental liabilities and related expenditures using financial risk modeling and the expertise of our remediation and due diligence teams.
- Auditing environmental information and reserves, and providing a management model for systematically addressing environmental liabilities and reducing uncertainties and future contamination or goodwill risks.
- Providing advice on how to address environmental provisions and contingencies in financial reporting.
- Tracking and managing environmental data in our own developed online management tools, to which clients have secure access.