In underwriting, we do significant reviews of all local laws and customs, especially related to environmental requirements at both the State and Federal level. This includes research on water regulations and requirements and arming / development requirements. The environmental reviews also consider local wildlife habitat impact studies.
For operations, either directly operated, custom farmed, or leased, we require meeting best practices, which are often developed on California properties, as regulations there are generally more strict than in other parts of the United States. We have implemented new policies in 2019 to address specific issues related to:
Water Access, Use and Protection
Air Quality Improvement and Protection
Soil Quality Improvement and Protection
Chemical Use, Impacts and Mitigation
Wildlife Impacts and Protection
Community and Stakeholder Relations and Cooperation
Our policy also requires both us and the operator to maintain a good relationship with neighbors. We seek collaborative relationships with nearby parties that could be impacted by our investment's operations.