- Compliance with US GAAP and related environmental accounting regulation
- Consistent approach for the accurate assessment & calculation of environmental liabilities / environmental reserves/ pollution remediation obligations (PRO)
- Expert guidance in best practices for environmental reserve policies/procedures
- Formation of a defensible, auditable and reproducible process for organizations to estimate, display, and disclose their environmental remediation liabilities resulting in reduced audit time
- Comprehensive repository for site-specific information, assumptions, and calculations
- Standardized practices to ensure consistency, comparability, and efficiency of projects
- Formulation of a "watch list" of potential future liabilities
Environmental Risk Communications, Inc. (ERCI) is an expert and industry-leading consultancy in the area of environmental liabilities management. The company was founded in 1994 and specializes in the management of and accounting for complex environmental restoration and remediation projects. We offer our proprietary Sarbanes-Oxley compliant software applications for creating detailed financial analyses and comprehensive documentation of environmental liabilities. The software suite utilizes Monte Carlo simulation, discounted cash flow analysis, and decision and sensitivity analysis to provide probabilistic cost-estimating and reserve forecasting. ERCI's suite of applications enables environmental project managers to reach strategic decisions (e.g., select fastest technology, lease out property during cleanup, use risk-based corrective action cleanup standards) that reflect the current understanding of project risks and objectives.
To complement our software solutions, we support our clients with consulting services in which we help develop site-specific strategic cleanup plans, including financial analysis, to determine the optimal management alternatives for both individual sites and portfolios of environmental liabilities. We assist clients in both the public and private sectors with strategy selection for environmental remediation projects, including brownfield redevelopment, and with the estimation and documentation of environmental reserves. Our clients include companies in the chemical, petroleum, and heavy manufacturing industries, as well as government entities such as port authorities and airports. The combination of our experience, proprietary software tools, and skill sets results in our ability to effectively accomplish our corporate mission:
"To help our clients efficiently and effectively manage their environmental liabilities while balancing business & accounting requirements with environmental stewardship interests"
ERCI's team of professionals includes financial analysts, accountants, and engineers / scientists with advanced degrees and extensive project experience related to assessment and management of environmental reserves, liabilities, and related risks.ERCI Qualifications & Experience (Download PDF)