While all companies retire unwanted assets from their portfolio, few realize the full value of these assets. Retiring assets is a complex and often costly process. Success demands rigorous attention to environmental, health, safety, and sustainability (EHSS) issues as well as a clear understanding of their effect on financial, technical, human and operational functions.
Identifying EHSS factors from the outset and managing them diligently through to closure prevents unfunded, emerging issues late in the process. This simplifies compliance, minimizes risk to the project and to the company, prevents profit erosion and reputational damage, and unlocks exceptional value by effectively removing potential liabilities from balance sheets.
Despite being a necessary and recurring activity, asset retirement is typically not a company’s day-to-day business; with a lack of in-house expertise, many organizations struggle to unlock its value.
An end-to-end solution
ERM combines broad EHSS technical expertise, which extends well beyond standard assessments, decontamination, and demolition, with complex project management experience and a client-centric approach. Every project is developed based on the wider business context: the company’s long- and short-term goals, financial schedules, shareholder concerns, and long- and short-term potential liability.
We work with our clients to minimize the impact of EHSS issues at each stage from initial retirement strategy to option analysis, planning, execution, and handover. ERM assesses the EHSS risks and opportunities, creates detailed scopes of work, and develops closure strategies. Our unique offering encompasses:
- End-to-end expertise: ERM brings unrivaled knowledge and expertise to managing the macro and micro details of every stage of the retirement process including material and asset valuation surveys, site characterization, remediation and demolition planning, land use planning, contractor management, execution, and the nuanced issues of stakeholder engagement and corporate management.
- A global and local approach: With experts around the world who understand the intricacies of local and international regulations, language, culture, and customs, ERM seamlessly integrates with both local representatives and corporate functions.
- Proven processes: Through years of working alongside leading organizations worldwide, paired with a unique blend of EHSS expertise and industry experience, ERM has developed proven processes, leading technology, and unparalleled insights into asset retirement themes, trends, challenges, and untapped opportunities.
Delivering optimal outcomes
By anticipating EHSS challenges and integrating solutions across business functions, companies are able to address emerging issues before they become roadblocks, continue operations with minimal disruption, reduce impact to supply chains and workforce safety, and avoid costly delays.
Whether unwinding operations, closing a production line, moving facilities, demolishing buildings, or preparing land for sale, ERM helps our clients anticipate, understand, and effectively manage EHSS issues. We ensure EHSS considerations are integrated into engineering, financial, commercial, reputational, and legal considerations throughout the asset retirement process, effectively maximizing the risk-adjusted value of their assets.