The NSW EPA has finalised the measures to manage financial risks of environmental liabilities, to ensure that those responsible for pollution or contamination pay the clean-up costs. Information about our Financial assurance policy and the Guideline on estimating financial assurances is available on the EPA’s website here.

The EPA developed a draft policy and guideline to provide greater certainty and transparency in this area and sought views and feedback on these draft documents during a consultation that closed on 1 May 2020:

1. Draft Financial Assurance Policy
2. Draft Guideline on Estimating Financial Assurances

The EPA considered the feedback received from this consultation to determine its final policy and guideline.

Draft Financial Assurance Policy

This draft policy outlines when and how the EPA may require a financial assurance under the Protection of the Environment Operations Act 1997, the Contaminated Land Management Act 1997 and the Radiation Control Act 1990. The draft policy includes a risk categorisation tool that the EPA will use to decide whether a financial assurance is justified due to the level of risk of environmental harm, the remediation or other work that may be required, or the environmental record of the regulated person or company.

Draft Guideline on Estimating Financial Assurances

This draft guideline provides a transparent and consistent method for companies, consultants and others estimating the amounts of the financial assurances. It will also help regulated companies and individuals to obtain an independent assessment of the costs of clean-up and remediation actions from auditors when the EPA has decided that a financial assurance is needed.

Information sessions

The EPA hosted four information sessions on the draft policy and guideline on 17 and 19 March.

You can see the presentation slides shared at all of the information sessions which contain information about the proposals in the document library on this page.

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