A turning point for Environmental Reports
The Law Society licence Terrafirma to produce CON29M
Terrafirma is proud to have been the first non-public body to be given a commercial licence for the CON29M legal form by The Law Society.
For more information, product card and more, please visit our dedicated CON29M Website.
The age of solely relying on data in environmental risk assessment is over, with an already visible shift in the way professionals perceive risks such as contaminated land and flood. Where historically data alone was enough to accept due diligence, now both a professional opinion and interpretative or evidence-based modelling is a standard in assessing and managing these environmental hazards. However, until Terrafirma, this shift in due diligence process was not replicated in assessing the risks the ground pose.
Only by combining comprehensive and varied data sources with expert professional interpretation can a clear, accurate and reliable picture be built of the likely hazards present. Recent revisions in due diligence practice is beginning to change the way the risks such as mining, ground stability, planning and fracking are now perceived and acted upon. Ensure you & your client are informed by acquiring an expert report, driven by data but protected by a professional opinion and robust professional indemnity.
Why do the risks the ground pose matter?
Until recently, hazards such as sinkholes, subsidence and ground instability were seen to be a generic physical risk that could not be practically actioned, did not affect a property transaction or development and held no tangible links to any financial or legal liability. However, recent industry observations show an emerging risk averse nature to certain ground hazards that were not historically perceived as being a block to a transaction. Mine entries, mineral planning, Mines and Minerals on title, slope stability and coastal erosion to name just a few have all experienced a recent change in policy and a significant increase in lender refusals and insurance premium hikes.
It is now essential for professionals to replicate these changes in policy by implementing much stricter due diligence practice for these risks and to ensure you and your clients are informed and protected.
Explore our revolutionary TerraSearch platform and its associated services and understand how Terrafirma can benefit you and/or your clients.
Please contact a preferred Terrafirma Search Partner, if you would like to find out more details or would like access to the TerraSearch Platform.
Trust in Terrafirma by viewing the data providers that we work and partner with. Including, interpreting & transfering risk from all our partners data in our suite of search reports.