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Compliance and Enforcement Annual Results FY2008:
Important Environmental Problems/National Priorities:
Financial Assurance

FY2008 Annual Results Topics
Annual Results for
National Enforcement Priorities

Problem: 

Financial assurance requirements in federal law ensure an operator has adequate funds to address the closure of facilities that handle hazardous wastes, hazardous substances, toxic materials, or other pollutants. The funds cover costs for clean up so that solvents, dioxins, oils, heavy metals, polychlorinated biphenyls (PCBs), and other dangerous pollutants do not contaminate soil, groundwater, surface water, or the air.   When the facility operator does not have the funds, the financial burden for cleaning up hazardous waste sites often falls to the community. 

EPA’s Financial Assurance Priority seeks to ensure facilities are in full compliance with the financial responsibility requirements.  Without EPA financial assurance, local communities would pay for the cost of expensive hazardous waste clean-up through state and federal tax bills.

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Key Results:

In FY 2008, EPA identified 26 Superfund sites where the Potentially Responsible Parties (PRPs) did not have sufficient funds set aside to cover the cost of the clean ups that were underway.  EPA got the PRPs to provide the funds to fully cover clean up costs.  This was a total of $134.3 million in FY 2008.

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Background:

 

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