Environmental Risk Innovations

What Environmental Risk Innovations does

Environmental Risk Innovations, LLC (ERI) is a Charlotte, North Carolina-based professional services firm that provides third-party environmental risk review and consulting to U.S. commercial lenders. Founded in 1999 by Greg Lathan when First Union National Bank outsourced its Environmental Policy Group, ERI is positioned as an independent reviewer rather than a traditional environmental consultant — the firm does not perform Phase I or Phase II Environmental Site Assessments itself but instead reviews work produced by other firms on behalf of bank clients. Its customer base spans more than 60 commercial lenders, ranging from regional community banks to national and international institutions, with named clients including Wells Fargo, Truist, US Bank, Fifth Third Bank, CIBC Bank USA, Bank of the West, Bank OZK, and Simmons Bank, among others.

ERI's core technology is a tiered suite of due diligence products delivered by in-house, co-located Environmental Professionals. Standard offerings include an Environmental Screen with Risk Rating (2-business-day turn), Environmental Screen Plus (adds aerial photograph review), Regulatory Database Report Review (1-mile radius, 3-business-day turn), SBA-Compliant Records Search with Risk Assessment (RSRA), Desktop Review, and Third-Party Environmental Report Review for Phase I/II ESA, Remedial Action Reports, and regulatory file reviews. Adjacent offerings include Property Condition Assessment (PCA) Review (ASTM E2018-24), Physical Climate Risk Assessment (six climate categories plus FEMA flood), Seismic Risk Assessment Review (ASTM E2026-24/E2557-24), Commercial Appraisal Reviews (via L-CAM alliance), and Lender Sustainability Services (via The EI Group partnership). Underlying credentials and standards include ASTM E1527-21, ASTM E2018-24, SBA SOP, and staff Licensed Geologist credentials in NC, SC, FL, and GA.

The business model is B2B professional services revenue: quote-based, pay-as-you-go fees per review engagement, with engagement initiated through a website order form or through integrations with at least five lending technology platforms (RealWired, RIMS Central / Exact Bid, Collateral360, ValuTrac, Coupa). ERI offers flexible engagement models ranging from turnkey outsourced environmental risk management to overflow review work during peak periods, plus policy development and training as ongoing retainer-adjacent revenue. The firm is privately held by founder Greg Lathan, with no disclosed outside funding, and operates with 11-50 employees from a single Charlotte headquarters.

Name

Environmental Risk Innovations

Legal name

Environmental Risk Innovations, LLC

Website

https://eriskinnovations.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

ERI is a Charlotte, NC-based professional services firm providing independent, third-party environmental risk reviews — including Phase I/II ESA review, SBA RSRAs, climate and seismic risk assessments, and PCA reviews — to more than 60 U.S. commercial lender clients.

Ownership category

akta.pro rank

Product category

Environmental Risk Management Consulting

NAICS

Environmental Consulting Services (541620)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Transaction Advisory for M&A, Lender & Investor Environmental Due Diligence (EUAHAEAJ)

akta.pro secondary industries

Enterprise Risk Management (ERM) Advisory (BPAHAFAA), All Appropriate Inquiries (AAI) & ASTM Phase I ESA (EUAHAEAA), Portfolio & Multi-Site Environmental Risk Screening (Desktop / Rapid Risk Assessments) (EUAHAEAK), Natural Hazard & Climate Physical Risk Screening for Sites (Flood, Wildfire, Sea Level) (EUAHAEAM), Enterprise Risk Management (ERM) (HDADAIAC)

Keywords

• Environmental risk consulting
• Commercial lending due diligence
• Phase I environmental review
• Environmental site assessment
• SBA records search

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Environmental Risk Consulting Services: ERI provides third-party environmental risk assessment review services to commercial lenders. Services include Phase I Reviews, RSRAs, Environmental Screens, Regulatory Database Reviews, Policy Development, Training, and Portfolio Reviews. Revenue is generated through professional consulting fees for these review and assessment services. The company serves as an independent third party reviewing work performed by environmental consulting firms.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Environmental Risk Innovations (ERI) is an independent, third-party environmental risk review and management consulting firm serving commercial lenders. ERI does not perform Phase I or Phase II Environmental Site Assessments itself; instead it reviews environmental reports prepared by others, including Phase I/II ESA reviews, SBA-Compliant Records Search with Risk Assessments (RSRAs), Regulatory Database Report Reviews, and tiered Environmental Screens. The firm also provides Property Condition Assessment reviews, climate and seismic risk assessments, commercial appraisal reviews, policy development, training, and portfolio reviews for banks of all sizes.

Product overview

Environmental Risk Innovations (ERI) is a consulting firm—not a traditional environmental consulting firm—specializing in the management of environmental risk for commercial lenders. ERI provides independent, third-party reviews and does not perform Phase I or Phase II Environmental Site Assessments itself. The service portfolio is organized around a tiered suite of due diligence products: the Environmental Screen with Risk Rating (two-day turn), Environmental Screen Plus (adds aerial photograph review), Regulatory Database Report Review (three-day turn), SBA-Compliant Records Search with Risk Assessment (RSRA), Desktop Review, and Third-Party Environmental Report Review (Phase I/Phase II reviews). Supplemental assessment services include Property Condition Assessment (PCA) Report Review (ASTM E2018-24), Physical Climate Risk Assessment (covering six climate categories), Seismic Risk Assessment Review (ASTM E2026-24/E2557-24), Commercial Appraisal Reviews (via L-CAM partnership), and Lender Sustainability Services (ESG/PCAF via The EI Group partnership). ERI also offers policy development and implementation services, Multiple Site Portfolio Reviews, Regulatory Agency Liaison support, Environmental Risk Training, and Complimentary Client Support. All services are delivered by permanent, in-house Environmental Professionals working collaboratively from a single Charlotte, NC office.

Differentiator

Problem solved

Functional benefit

Products and services

• Environmental Screen with Risk Rating A rapid screening product that reviews an ⅛-mile regulatory database report and provides an Environmental Professional Risk Rating to determine whether a subject or adjacent property is listed on environmental regulatory databases. Two business-day turn time; used by lenders for new loans with relatively low loan amounts and for renewals.
• Environmental Screen Plus Enhanced version of the Environmental Screen that includes an ⅛-mile radius regulatory database report, an Environmental Professional Risk Rating, and review of readily available online historical aerial photographs. Used for low-risk collateral with relatively low loan amounts and to evaluate new environmental listings since loan origination.
• Regulatory Database Report Review Review of a regulatory database report extending to a 1-mile radius to determine if the collateral property or adjacent properties are listed on federal, state, or local environmental databases, including review of online historical aerial photographs and preparation of an Environmental Review Memorandum. Three business-day turn time.
• SBA-Compliant Records Search with Risk Assessment (RSRA) SBA-developed minimum due diligence product for low-risk commercial properties, including review of at least two historical sources (aerial photographs, city directories, fire insurance maps), a regulatory database report, optional site contact interview, and Risk Determination by an ERI Environmental Professional. Prepared in accordance with SBA SOP requirements.
• Third-Party Environmental Report Review (Phase I Reviews) ERI reviews Phase I and Phase II Environmental Site Assessments, Remedial Action Reports, and regulatory file reviews prepared by other firms, then prepares an Environmental Review Memorandum summarizing findings, identifying environmental risks, and providing recommendations consistent with the client bank's risk tolerance and industry best practice.
• Environmental Risk Management Policy Development Development of Environmental Risk Management Policies and Procedures for lenders, providing technical expertise to develop and amend policies to suit each client bank's specific risk tolerance and industry best practices.
• Policy Implementation & Maintenance Assists clients in rolling out environmental risk policies and procedures to lenders and credit staff, managing and implementing environmental risk policies and programs to maintain business goals.
• Multiple Site Portfolio Reviews Third-party capacity for quickly processing large portfolio reviews with tight deadlines, presenting collateral details and environmental issues in a format that enables lenders to understand collateral risk and meet loan closing deadlines.
• Commercial Appraisal Reviews Independent commercial appraisal reviews conducted by qualified appraisers in partnership with LaSalle Commercial Appraisal Management (L-CAM), assessing compliance with Federal Reserve appraisal regulations, professional standards, and providing appraisal compliance consulting.
• Environmental Risk Training Customized training programs for bank staff on environmental risk management topics, including current environmental topics, internal policy questions, and other tailored topics of interest.
• Complimentary Client Support Ongoing complimentary services including creating, reviewing, and updating Environmental Risk Management Policies, keeping clients informed of regulatory updates and best practices, policy training, and serving as an ongoing resource to credit, appraisal, and environmental risk managers.
• Property Condition Assessment (PCA) Report Review Specialized review of PCA reports for financial institutions, including compliance with ASTM E2018-24, evaluation of PCA professional qualifications, assessment of building deficiency costs and reserve schedules, and ensuring adequate funding for building system maintenance and replacement.
• Physical Climate Risk Assessment Evaluation of climate-related risks associated with a property across six categories (heat, precipitation, drought, wind, fire, flood), plus a Standard Flood Hazard Determination Form per FEMA requirements and mitigation measure recommendations.
• Seismic Risk Assessment (SRA) Review Third-party review of Seismic Risk Assessments verifying compliance with ASTM E2026-24 and ASTM E2557-24, including verification of earthquake occurrence models, ground motion assumptions, and SEL-DBE to PML calculations for building structural engineering components.
• Regulatory Agency Liaison Support services for properties with known contamination, including historical property documentation review, gap analysis, regulatory authority contact, procurement of bids from qualified Environmental Professionals, and ongoing client support.
• Lender Sustainability Services Joint offering with The EI Group to help financial institutions assess the ESG practices and carbon footprint of corporate borrowers in anticipation of SEC climate disclosure rules, enabling banks to build standardized systems for evaluating clients' ESG activities.

Quantifiable outcome

• Environmental Screen turn time: 2 business days
• +4 more outcomes

Named customers14 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• The EI GroupcoreStrategic or Co-development PartnerERI has partnered with The EI Group, a multidisciplinary environmental engineering, occupational safety and health consulting firm, to provide Lender Sustainability Services. This partnership addresses anticipated SEC climate disclosure rules requiring publicly traded financial institutions to assess ESG practices and carbon footprint of borrowers. EI and ERI have launched a joint blog series on Banks, Borrowers, and Climate Change to help financial institutions build systems to assess client ESG activities.
• LaSalle Commercial Appraisal Management (L-CAM)coreStrategic or Co-development PartnerERI has an alliance with LaSalle Commercial Appraisal Management (L-CAM), one of the nation's most experienced commercial appraisal review firms. All L-CAM review appraisers have at least 25 years of experience. ERI and L-CAM together provide what they describe as the nation's leading alliance in outsourced appraisal and environmental review services for commercial lenders.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Apex Companies: National environmental consulting and remediation firm providing Phase I/II ESA services and lender environmental due diligence. Comparable to ERI on service offerings though broader in scope and scale.
• Bureau Veritas North America: Global testing, inspection, and certification firm with an environmental and lender due diligence practice (originating from the former EMG). Provides comparable Phase I/II review and risk assessment services to commercial lenders, though as part of a much broader TIC portfolio.
• GHD Services: Global engineering and environmental consulting firm with a US lender environmental due diligence practice including Phase I/II ESA reviews. Comparable services though broader portfolio and larger scale than ERI.
• Terracon Consultants: Large national geotechnical and environmental consulting firm offering Phase I/II ESAs, RSRAs, and portfolio environmental services to financial institutions. Operates at significantly greater scale than ERI but serves the same lender due diligence market.

Direct peers

• Partner Engineering and Science: National environmental and engineering consulting firm offering Phase I/II ESAs, RSRAs, and lender environmental due diligence to commercial lenders. Directly comparable to ERI across the lender environmental review service line and SBA-compliant products.
• EBI Consulting: Environmental, building sciences, and risk consulting firm providing Phase I/II ESA reviews, regulatory compliance, and lender due diligence. Closely aligned with ERI on commercial lender-facing environmental review and risk rating services.

Emerging players

• Haley & Aldrich: Environmental and geotechnical engineering firm with a lender services practice including Phase I reviews and portfolio environmental risk assessments. Comparable niche overlap with ERI's third-party review focus, though oriented more toward larger/complex transactions.

Others

• Environmental Data Resources (EDR): Provider of regulatory database reports, historical aerial photographs, and city directories used in Phase I ESAs and RSRAs. Functions as a key data supplier for ERI's reviews and is adjacent in the lender environmental due diligence value chain.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/environmental-risk-innovations-eri-

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Environmental Risk Innovations