Environmental, social, governance: The future of process safety management or repeat of the past?

Abstract

AbstractSites have implemented process safety management (PSM) systems, initially for Occupational Safety and Health Administration (OSHA) PSM and the Environmental Protection Agency (EPA) risk management program (RMP) compliance. Then later, they adapted those systems for risk‐based process safety (RBPS). They discovered the power of leveraging these foundational systems of procedures, tools, and practices for numerous follow‐on initiatives: for example, action management, API‐1173, SIS/IEC‐61511; cybersecurity/IEC 62443; API‐754/Vision 2020 metrics; ISO 14001. Today, companies are increasingly serious about environmental, social, governance (ESG) issues, and demonstrate progress by leveraging the S&P global corporate sustainability assessment (CSA). Interestingly, 63% of the CSA elements rely on information directly or indirectly produced by PSM systems. The existing PSM systems may require additional data collection, or additional lifecycles, in their business processes to satisfy the ESG/CSA requirements. Process safety professionals have a critically important role in supporting local and corporate ESG initiatives. ESG initiatives are indeed the “new game in town” to promote continuous improvement in process safety.