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International Conference Provides Educational and Networking Forum for Environmental Industry Executives

Posted on: Thursday, 8 June 2006, 15:00 CDT

MILFORD, Conn., June 8 /PRNewswire/ -- Thursday, May 25, 2006 marked the conclusion of Environmental Data Resources' client conference on the evolving world of environmental due diligence. Held at the national environmental risk information company's headquarters in Milford, Connecticut, the invitation-only event drew more than 50 executives from leading companies in the environmental consulting, legal, insurance and banking industries. Attendees shared ideas and learned about trends in the environmental due diligence and commercial real estate markets. They also heard predictions from leading industry analysts -- who came from as far away as England and Japan -- about where the domestic and international due diligence industry is headed.

The kickoff of the four-day event was a keynote address by three key industry players: Dianne Crocker, EDR's managing director of market research; Senior Real Estate Economist Paul Briggs of Property & Portfolio Research, a leading real estate research and portfolio strategy firm and sister company to EDR, and George Stubbs, a 25-year industry veteran and editor of Environmental Business Journal, the environmental industry's leading business newsletter. Crocker presented research on the domestic environmental site assessment market, including trends in activity, pricing, market challenges and emerging areas of opportunity. Briggs presented data and statistics on hot spots in the domestic commercial real estate market, and Stubbs offered his predictions for where the environmental consulting and engineering market is headed.

"After some volatility in the late 1990s, the Phase I industry has been on a steady growth curve in the last four years, bolstered by the strength of the economy, low interest rates, healthy returns from commercial real estate and an abundance of investment capital," Crocker observed.

Briggs concurred. "We are in an economic 'sweet spot' with high demand for commercial real estate, particularly office and multifamily properties," he said. Briggs also told attendees that income growth will differ significantly by geography and property type.

Stubbs touched on the potential for an economic downturn, citing a burst real estate bubble, inflation and a lack of available talent as challenges the environmental industry could face. He did say, however, that there are considerable opportunities in areas such as redevelopment, brownfields and private sites, and international markets.

Conference highlights: * Crocker told attendees that the Phase I environmental site assessment industry is riding a wave of record high commercial real estate activity, registering eight percent annual growth in 2005. * Banks are competing aggressively for commercial real estate loans, at times at the expense of environmental risk management, said George Green, Director, Commercial/Multifamily, Mortgage Bankers Association, and William Muzychko, president of the Environmental Bankers Association. The pair shared insight into regulators' concerns about banks' increasing exposure to liability in commercial real estate lending, and the implications for banks' environmental due diligence practices. They also discussed new tools for improving lenders' liability associated with commercial properties. * Attorney Barry Trilling from Wiggin and Dana, along with Pat Coyne, EDR's vice president of sales, discussed the impact that EPA's new property assessment rule, "All Appropriate Inquiries," is having on the marketplace six months after its release -- and midway to its November 1, 2006 effective date. * Greg Rogers, an expert on corporate environmental transparency with environmental law firm Guida Slavich & Flores, discussed the latest trends in corporate disclosure of environmental liabilities and risks under Sarbanes-Oxley and FIN 47. * Anthony Buonicore, PE, DEE, past president of the Air & Waste Management Association and chairman of EDR, discussed standards-setting organization ASTM's efforts to address the emerging risk of vapor intrusion, the process by which contaminants migrate through soil and negatively impact indoor air quality. * International environmental experts Robert Soza with Jenkens & Gilchrist; Miki Mitsunari of Mizuho Information & Research Institute Inc., and Bill Roth with Jacques Whitford told attendees about existing and emerging opportunities in international markets including Mexico, Japan, and Canada. * Geoff Offen, an expert in the development of environmental reports and screening systems in Europe, who serves as European Business Development Director for Landmark Information Group, EDR's sister company in the UK, discussed the emerging Phase I environmental site assessment market in the United Kingdom. Offen also shared his experience elsewhere in Europe, where a lack of access to public data is a major hurdle in the environmental due diligence process.

"EDR's client conference was time well spent," said Elizabeth Sherwood Krol, P.G., Northeast Due Diligence Manager of Shaw Environmental & Infastructure. "The speakers were terrific, and the information regarding trends in the environmental due diligence market was insightful. I especially enjoyed the time to network and gain valuable educational information."

"EDR's conference brought together the biggest and most influential leaders in the environmental due diligence industry," said Rob Barber, chief executive officer of EDR. "Attendees were able to learn from other industry experts and network with each other, all in a four-day event that included golf and other activities that allowed them to share ideas in a relaxed, informal setting. This client conference was a great success, and we plan to make it an annual event."

About EDR

Environmental Data Resources Inc. (EDR) is the nation's premier provider of environmental risk information services and reports. The company offers current, prior use and regulatory compliance information services tailored to either a specific property address or company name. EDR offers these services to all participants in a real estate transaction, including the lender, environmental engineer, buyer, seller, attorney and insurer. The company's Market Research Group provides strategic data and analysis on environmental due diligence trends, including market surveys, newsletters, and workshops. Established in 1991, EDR's headquarters are in Milford, Connecticut; regional offices are located throughout the United States. EDR is wholly owned by DMG Information Inc., the business information division of Daily Mail and General Trust, plc (DMGT). For more information, visit http://www.edrnet.com/.

Contact: Ms. Amy Drescher EDR Public Relations (800) 352-0050 adrescher@edrnet.com

Environmental Data Resources

CONTACT: Amy Drescher of EDR Public Relations, +1-800-352-0050,adrescher@edrnet.com

Web site: http://www.edrnet.com/

Source: PRNewswire

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