Environmental bonds don’t appear to have been popular with industry. In the meantime, the Colorado Gold King Mine incident and many others have occurred. Cancer and endocrine related diseases start in your environment.
The best hope for success is to take immediate or early action to minimize impact. But the public invariably starts first and then will try to recoup costs later.
It is tempting to blame the government. What many people are unaware is the Environmental Protection Agency requested that the Gold King Mine become a Super Fund site years before gallons of waste entered the waterways.
Local government and residents declined, fearing impact on local tourism and ironically their economy. We must not forget the mine through its activities was the source of the contamination!
Without requiring companies to post environmental bonds before conducting business activity, the byproducts of doing business are passed onto the public. You and I simply have no assurances beyond a “plan” on a piece of paper that the company is truly going to be the responsible party and correct the wrong if technological advances that make clean up possible.
Issues arise such as unnecessary litigation intending to avoid liability, not culpability (for example, the mine’s actions did cause the catastrophe, and the legitimate issue only is how much it has to pay). Or in cases when the company files bankruptcy, corporate law protects everyone involved except the public.
Having key favorable language and requiring a bond provides instant access to well assessed funds. Further assessments can be made as the cleanup progresses or the full extent of the damage is clear on lives or communities.
As we enter a time in which the private corporate world appears set to get what it wanted — less regulation — it is imperative that the use of environmental bonds are advocated for by you, common citizens to ensure your family doesn’t bear cost or suffer other losses due to private corporate actions.
Contact your representatives at all levels of government and demand environmental bonds are used.
Helen Nowlin
attorney
Glenoma
