Financial Security

Security

Funds must be set aside by waste management facilities to ensure that sites are reclaimed to a useful and productive state when operations conclude. Owners of waste management facilities (excluding on-site, Crown and local authority facilities) must provide financial security before starting operations or reclaiming their facilities.

The amount of security required is based on:

  • Estimated costs of conservation/reclamation submitted by the applicant, approval/registration holder
  • Estimated post-closure monitoring costs
  • Existing site assessment/monitoring results
  • Nature, complexity and extent of facility operations
  • Probable difficulty of conservation/reclamation
  • Proposed closing costs

The security amount required is also subject to any other considerations by the Director.

The Director can increase or decrease the amount of security, and the approval or registration holder remains liable for the costs of conservation and reclamation.

Landfills

A template has been developed to assist in calculating the amount of security required for Class I, Class II and Class III landfills. The Crown or a local authority can also use the template to determine financial reserves necessary for landfill closure and post-closure care.

These Excel spreadsheets provide sample calculations for Class I, Class II and Class III landfills.

Please note the following conditions and sources used to develop the sample calculation spreadsheets:

  • Additional information was obtained from as-built costs from Sensor Environmental and Alberta Environment and Parks
  • Closure Requirements
  • Costs are based on 2002 costs
  • Inflation rates of three to five per cent were used for post-closure costs
  • Sources for the data include: Enviro-test Laboratories (analytical testing), Layfield Geosynthetics and Industrial Fabrics Ltd. (synthetic products), North American Construction Group Inc. (earthworks), Prairie Seeds Inc., Smokey Lake Forest Nursery (revegetation)

Other Waste Facilities

There are no templates developed for assisting operators in calculating the amount of security required for facilities other than landfills; however, some of the same requirements for reclamation or remediation in the landfill templates may apply and can be used to assist in initial estimates of security for other facilities.

 

Page Information

Updated: Oct 16, 2017