This chapter considers the identification and management of environmental risks associated with property. Every commercial operation with a physical base should therefore find this a significant issue. It is also an area where historical activities, completely unrelated to current or future operations, may have an impact - principally through the contamination of land. Furthermore, it can be relevant beyond the occupiers of the property through to managing agents, landowners, and property investors and on to financial institutions whose collateral on lent money is the value of the property.