The Phase I ESA is an essential document for brownfield property transactions and/or for learning about a property's environmental history and status. Experts in the ASTM Phase I ESA standard will provide a foundation about the statutory background. The presentation will focus on the recently published ASTM E1527-21 Phase I standard and what clarifications and distinctions are different now from the former 2013 standard. These important insights are vital for those involved with commercial property acquisitions and brownfield development.