Final line for Environmental
Risk Analysis

Law 26/2007, of 23 October, on Environmental Responsibility, modified by Law 11/2014, of 3 July, establishes in Annex III the activities that must have a financial guarantee that allows them to face the environmental responsibility inherent to the activity they carry out. Said Law establishes that the determination of the amount of the financial guarantee shall be based on the Environmental Risk Analysis of the activity.

At the end of 2017, Ministerial Order APM/1040/2017 was published, which establishes the date from which the constitution of the obligatory financial guarantee will be required for activities classified as priority level 1 and 2.

• Priority 1 activities (SEVESO operators, combustion plants and waste management facilities) must provide a mandatory financial guarantee by 31/10/2018.
• Priority 2 activities (oil and gas refinery activities, coke ovens, steel casting, salts, medicines, explosives, landfills) must provide such a guarantee by 31/10/2019.

In the dates that we are, we can say that we are in the final straight to coordinate and work the analysis of the activities of level of priority 2, since we can find that arrival at the established deadline, the company receives a request from the administration, which requires the communication of having carried out such analysis in no more than 30 days, which can give rise to financial penalties if they do not meet the deadlines.

It is important to point out, due to the large number and variety of activities with priority level 3, that the draft ministerial order is currently in consultation, which establishes a term of 2 years from its publication, for the constitution of the obligatory financial guarantee.

In any case, we would like to point out that in order to establish the amount of the obligatory financial guarantee it is necessary to carry out an analysis of the environmental risks of the activity in accordance with the criteria and requirements established in the applicable regulations, and from Euro-Funding we have two years’ proven experience in carrying out this analysis in companies that are SEVESO operators carrying out different activities such as the manufacture of cleaning products, basic chemical products, pharmaceutical products or the manufacture of biodiesel, among others.

This analysis allows you to monetize the environmental damage required within the deadlines established by law and, where appropriate, to constitute the financial guarantee required by law. It is important not to confuse the fact that having the contracted environmental liability insurance does not exempt you from carrying out the environmental risk analysis.

At Euro-Funding we accompany our clients in the process of implementing energy efficiency measures and the development of actions that reduce the environmental impact through the development of specialized consulting services, adapted to the needs and legal obligations.