(51b) ESG: The Future of PSM or Repeat of the Past?

Process Safety is a lifecycle management system integral to R&D and Manufacturing operating discipline (or conduct of operations). Since process safety is inherent to the process development, engineering, implementation, and operations of a process unit over its lifetime, it becomes instrumental in accomplishing the unit’s loss prevention, quality, and productivity objectives.

Over the last ten years, there have been other risk-based lifecycle management standards that have become recognized as industry best practices. These include ANSI/IEC-61511, Functional Safety – Safety Instrumented Systems for the Process Industry, IEC-62682/ISA 18.2, Management of Alarm Systems for the Process Industries, IEC-62443, Industrial Communication Networks – Network and System Security as well as ISO 27001. These standards share a lifecycle very much in alignment with the Process Safety Management Standard, 29 CFR 1910.119, in the US and similar ones abroad. There is process definition, risk assessment, determination of safeguards or protection measures in depth, design and implementation, operations and asset integrity management, management of change, decommissioning, auditing, and governance. We have witnessed organizations with strong process safety management systems capitalize on the alignment and succeed in implementing each of these standards.

Commitment to Sustainability and Corporate Social Responsibility has now become the driving force in vision-setting and business planning for many organizations. Environmental, Health, Safety & Sustainability goals have or are being set and process definition is underway. This is another “lifecycle” opportunity to leverage your risk-based process safety management systems. Central to achieving company sustainability goals is new and safer chemistry and sustainable products; innovative designs for recycling and waste elimination; and increased resource and energy efficiency. In practice, the achievement of these goals without increasing corporate risk will be reliant on an organization’s process safety management standards and practices in place.

The authors will identify the key intersections of process safety and sustainability that an organization would value recognizing and incorporating into their business planning process.

Case study vignettes form an important part of this presentation.