Article 14(2) of the Environmental Liability Directive (ELD), 2004/35/EC, requires the European Commission to report by April 2010 on the effectiveness of the ELD in terms of actual remediation for environmental damage, on the availability of insurance products covering ELD requirements and their costs and conditions, as well as other types of security for the activities covered by Annex III of the Directive. With these objectives in the background, this study aims at presenting a state of the art of insurance and financial security of environmental liability under the ELD with an analysis of their gaps and limitations. Furthermore the study aims to analyse the Member States' response to financial security ELD requirements and to identify market-based instruments (MBI) that could serve as alternatives to insurance cover in the context of the ELD.
A workshop was organised on July 10th, 2009 in Brussels to present key issues and interim results. This workshop served as a platform for the different stakeholder groups to come together and discuss the ELD implementation and its impacts. Following documents are available for download from this workshop. The minutes will be made available soon.