The entry into force of Priority 3 of the Environmental Liability Law 26/2007 on October 15, 2021 will consolidate the regulatory framework that will govern all economic operators subject to the mandatory financial guarantee.
The aforementioned mandatory nature is regulated in APM 1040/2017, in which all affected operators can be consulted. We provide the direct link for detailed consultation:
This obligation is determined, among other things, by the type of sector and activity carried out by the economic operator and the potential environmental damage it could cause in the event of a fortuitous accident.
Which sectors are priority 3?
Priority 3 companies that must establish the environmental guarantee by October 15, 2021 are those included in sectors and subsectors related to:
- Agriculture, livestock, hunting and related services.
- Perennial and non-perennial crops.
- Livestock production.
- Livestock and agricultural support activities.
- Food industry companies.
- Forestry, logging.
- Aquaculture.
- Extraction of minerals, crude oil or natural gas.
New features of the law
The entry into force of Priority 3 brings as a novelty the introduction of 68 new activities and 10 new sectors, which will affect many companies in the national industrial sector that until now were not obliged to carry out an environmental risk analysis (ARMA) and, therefore, to contract the mandatory financial guarantee established by law.
We are at a crucial moment in which the task of advising and informing these operators takes on special importance, since they are facing new responsibilities and many of them are unaware of this.
Let us also remember that the administrative regime regulated by this law is objective and unlimited, and is based on the polluter pays principle in the pursuit of the common interest, which is the protection of the environment.
Environmental claims have a low frequency but high severity and a development period until the end of their management of about 2 years on average.
Whether or not it is compulsory to provide a financial guarantee, environmental liability insurance is the most appropriate protection mechanism for economic operators to meet the costs arising from the adoption of measures to prevent, avoid and repair any environmental damage they may cause. No other insurance can fulfill this purpose.