What do COFRs stand for in pollution response?

COFRs, or Certificates of Financial Responsibility, are essential documents in pollution response that demonstrate an entity's financial ability to cover the costs of cleanup and remediation following a hazardous substance release or spill. This requirement is particularly important for facilities that handle oil or certain hazardous materials, ensuring that they can address potential environmental damages without imposing financial burdens on the government or the public.

The certificates serve to guarantee that necessary funds are available for effective response actions, emphasizing the principle of financial accountability in environmental management. By mandating that responsible parties obtain COFRs, regulatory agencies help ensure compliance with environmental laws and foster proactive risk management in industries that pose environmental threats.