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  • February 1994 (Revised August 1994)
  • Background Note
  • HBS Case Collection

Note on Contingent Environmental Liabilities

By: Richard H.K. Vietor and Forest L. Reinhardt
  • Format:Print
  • | Pages:23
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Abstract

Addresses contingent environmental liabilities that are the result of unforeseen environmental risks where the dollar amount of such liabilities is unknown and depends on future events. In contrast, fines for violating environmental laws are liabilities, but are not considered contingent liabilities as such fines are relatively predictable. Covers liabilities under common law doctrines (including toxic torts), the Resource Conservation and Recovery Act (RCA), and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). In particular, discusses lender liability issues as of 1993 and briefly discusses financial reporting requirements. Concludes with a discussion of strategies for managing such liabilities.

Keywords

Legal Liability; Risk Management; Natural Environment; Laws and Statutes; Pollutants; Governance Compliance; United States

Citation

Vietor, Richard H.K., and Forest L. Reinhardt. "Note on Contingent Environmental Liabilities." Harvard Business School Background Note 794-098, February 1994. (Revised August 1994.)
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About The Authors

Richard H.K. Vietor

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Forest L. Reinhardt

Business, Government and the International Economy
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More from the Authors
  • Methane Abatement Costs in the Oil and Gas Industry: Survey and Synthesis By: Joseph E. Aldy, Forest Reinhardt and Robert N. Stavins
  • Barilla: Feeding the Future By: Sophus A. Reinert, Forest L. Reinhardt, Dante Roscini and Carlota Moniz
  • U.S. and Global Agriculture: The Next Four Years By: Forest Reinhardt, Sarah Dankens and Natalie Kindred
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