H2Tech - Q3 2022 - 39

SAFETY AND SUSTAINABILITY
how three key technical safety studies
impact a company's ESG strategy for a
given capital project; these examples are
not intended to be all-inclusive.
While an ESG strategy looks at far
broader topics than technical safety
studies, the three examples listed provide
the context of how stakeholders can
find value in including key safety plan
studies in project reporting.
Application to H2
and other low carbon
energy. Experts say ESG is here to
stay. As a requirement for investments
for private and public corporations,
ESG's focus on investing in responsible
technologies and capabilities is not just
a necessity-it can also provide a competitive
advantage with watchful investors
and consumer communities.11
While there are no set global standards
for ESG reporting, regulators such as
the U. S. Securities and Exchange Commission
(SEC) have introduced preliminary
guidelines on investment product
reporting and disclosure recommendations.
Now is the time for companies to
be both proactive and strategic.
It is easy to document your ESG strategy
and talk about commitments to the
process in an annual report or request for
funding. Reporting your ESG impacts in
public filings is one of the most concrete
ways to prove that your organization
is taking action. A large part of that action
is demonstrating a commitment to
climate and sustainability-related activities;
however, demonstrating a safe operational
facility for the local community is
a close second. A best practice approach
to thoroughly assessing operational
safety will go beyond regulatory requirements.
It can be effectively managed
through collaboration with a safety-focused
consultancy experienced with the
unique safety challenges of low-carbon
fuels-especially H2
and explosive) and NH3
ic).12
early
(highly flammable
(highly toxWhile
low-carbon fuel hazards are
unique, select companies have studied
these hazards for years (FIG. 7).
Through the
5
application of
process safety design reviews, capital
projects can optimize designs that meet
geographic constraints and corporate
safety goals around risk reduction,
while minimizing project and facility
lifetime cost impacts. In summary, having
a safety plan that starts at the onset
6
FIG. 6. Example of insurance risk engineering impact on ESG.
of a capital project may take more time,
effort and investment early in the project
lifecycle, but it inherently proves
to stakeholders (investors, employees,
communities, partners, etc.) that you
are not just putting an ESG strategy on
paper, but are actively striving for best
practices to limit risks to the environment,
people (onsite and offsite), assets
and the business.
REFERENCES
8
a
CERAWeek by S&P Global
LITERATURE CITED
1
Worland, J., " The bulletin: Environmental
regulations aren't preventing oil drilling, " Time
Magazine, Vol. 199, Nos 11-12, March 2022, pp. 12.
2
Latapí Agudelo, M.A., L. Jóhannsdóttir and B.
Davídsdóttir, " A literature review of the history
and evolution of corporate social responsibility,
International Journal of Corporate Social
Responsibility, 2019, online: https://doi.
org/10.1186/s40991-018-0039-y
3
Kell, G., " The remarkable risk of ESG, " 2018,
online: https://www.forbes.com/sites/
georgkell/2018/07/11/the-remarkable-riseofesg/?sh=14d885851695
4
Visram,
T., " ESG investing continued to
soar in 2021: The government could boost
it even more, " Fast Company, 2021, online:
https:// www.fastcompany.com/90706552/
esg-investingcontinued-to-soar-in-2021the-government-couldboost-it-evenmore#:~:text=2021%20was%20a%20record%20
year,all%20assets%20contain%20sustainable%20
investments
Greenstone
Blog, " Blackrock's 2021 letter to CEOs
and what it means for ESG report, " 2021, online:
https://www.greenstoneplus.com/blog/blackrocks2021-letter-to-ceos-and-what-is-meansfor-esgreporting
Radhakrishnan,
S. and A. Mifflin, " Framework
development Week 1: Introduction to ESG,
sustainability, and CSR, " ESG in Energy:
Framework development, February 2022,
University of Houston.
7 CCPS, " Guidelines for integrating process safety
9
10
FIG. 7. BakerRisk full-scale H2
to detonation (22.5% lean H2
test deflagration
).
into engineering projects, " Center for Chemical
Process Safety, American Institute of Chemical
Engineers, New York, New York, 2018.
Vilas, K. and M. Broadribb, " Leveraging process
safety techniques in capital projects, " 2020, Global
Congress for Process Safety (GCPS) Conference.
Baker Engineering and Risk Consultants Inc.,
(BakerRisk), online: www.BakerRisk.com
Vilas, K. and D. Malik, " Myth busting: Hydrogen
vapor cloud explosions, " Center for Hydrogen
Safety, Virtual Conference, September 2020, online:
https://www.bakerrisk.com/br-published-paper/
myth-busting-hydrogen-vapor-cloud-explosions/
11
Finario, " ESG + Capex, " Blog, accessed March
2022, online: https://www.finario.com/esg-capexwheredo-we-go-from-here/
12
Malik,
D., " Hydrogen and ammonia-the unique
safety challenges, " OPERA, virtual webinar,
October 2021, online: https://www.bakerrisk.
com/br-published-paper/hydrogen-and-ammoniatheunique-safety-challenges/
KAREN
VILAS is the Director
of Business Development North
America at Baker Engineering
and Risk Consultants Inc. in
Houston, Texas. She is also a
Principal Consultant in the
Houston Process Safety Group,
specializing in consequence and risk modeling.
Vilas has worked extensively with clients in the
refining and petrochemical industries, focusing on
risk quantification and mitigation of blast, toxic,
flammable and fire hazards. In addition to servicing
clients' process safety needs, she oversees the
business development and marketing group, focusing
on industry education of key risk management topics
through conference technical content coordination
and media content development.
H2Tech | Q3 2022 39
http://www.BakerRisk.com https://www.bakerrisk.com/br-published-paper/myth-busting-hydrogen-vapor-cloud-explosions/ https://www.bakerrisk.com/br-published-paper/myth-busting-hydrogen-vapor-cloud-explosions/ https://jcsr.springeropen.com/articles/10.1186/s40991-018-0039-y https://www.finario.com/esg-capex-where-do-we-go-from-here/ https://jcsr.springeropen.com/articles/10.1186/s40991-018-0039-y https://www.finario.com/esg-capex-where-do-we-go-from-here/ https://www.forbes.com/sites/georgkell/2018/07/11/the-remarkable-rise-of-esg/?sh=14d885851695 https://www.bakerrisk.com/br-published-paper/hydrogen-and-ammonia-the-unique-safety-challenges/ https://www.bakerrisk.com/br-published-paper/hydrogen-and-ammonia-the-unique-safety-challenges/ https://www.bakerrisk.com/br-published-paper/hydrogen-and-ammonia-the-unique-safety-challenges/ https://www.fastcompany.com/90706552/esg-investing-continued-to-soar-in-2021-the-government-could-boost-it-even-more#:~:text=2021%20was%20a%20record%20year,all%20assets%20contain%20sustainable%20investments https://www.fastcompany.com/90706552/esg-investing-continued-to-soar-in-2021-the-government-could-boost-it-even-more#:~:text=2021%20was%20a%20record%20year,all%20assets%20contain%20sustainable%20investments https://www.fastcompany.com/90706552/esg-investing-continued-to-soar-in-2021-the-government-could-boost-it-even-more#:~:text=2021%20was%20a%20record%20year,all%20assets%20contain%20sustainable%20investments https://www.fastcompany.com/90706552/esg-investing-continued-to-soar-in-2021-the-government-could-boost-it-even-more#:~:text=2021%20was%20a%20record%20year,all%20assets%20contain%20sustainable%20investments https://www.fastcompany.com/90706552/esg-investing-continued-to-soar-in-2021-the-government-could-boost-it-even-more#:~:text=2021%20was%20a%20record%20year,all%20assets%20contain%20sustainable%20investments https://www.fastcompany.com/90706552/esg-investing-continued-to-soar-in-2021-the-government-could-boost-it-even-more#:~:text=2021%20was%20a%20record%20year,all%20assets%20contain%20sustainable%20investments https://www.greenstoneplus.com/blog/blackrocks-2021-letter-to-ceos-and-what-is-means-for-esg-reporting https://www.greenstoneplus.com/blog/blackrocks-2021-letter-to-ceos-and-what-is-means-for-esg-reporting https://www.greenstoneplus.com/blog/blackrocks-2021-letter-to-ceos-and-what-is-means-for-esg-reporting

H2Tech - Q3 2022

Table of Contents for the Digital Edition of H2Tech - Q3 2022

Contents
H2Tech - Q3 2022 - Cover1
H2Tech - Q3 2022 - Cover2
H2Tech - Q3 2022 - Contents
H2Tech - Q3 2022 - 4
H2Tech - Q3 2022 - 5
H2Tech - Q3 2022 - 6
H2Tech - Q3 2022 - 7
H2Tech - Q3 2022 - 8
H2Tech - Q3 2022 - 9
H2Tech - Q3 2022 - 10
H2Tech - Q3 2022 - 11
H2Tech - Q3 2022 - 12
H2Tech - Q3 2022 - 13
H2Tech - Q3 2022 - 14
H2Tech - Q3 2022 - 15
H2Tech - Q3 2022 - 16
H2Tech - Q3 2022 - 17
H2Tech - Q3 2022 - 18
H2Tech - Q3 2022 - 19
H2Tech - Q3 2022 - 20
H2Tech - Q3 2022 - 21
H2Tech - Q3 2022 - 22
H2Tech - Q3 2022 - 23
H2Tech - Q3 2022 - 24
H2Tech - Q3 2022 - 25
H2Tech - Q3 2022 - 26
H2Tech - Q3 2022 - 27
H2Tech - Q3 2022 - 28
H2Tech - Q3 2022 - 29
H2Tech - Q3 2022 - 30
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H2Tech - Q3 2022 - 37
H2Tech - Q3 2022 - 38
H2Tech - Q3 2022 - 39
H2Tech - Q3 2022 - 40
H2Tech - Q3 2022 - 41
H2Tech - Q3 2022 - 42
H2Tech - Q3 2022 - Cover3
H2Tech - Q3 2022 - Cover4
https://www.nxtbook.com/gulfenergyinfo/gulfpub/hydrogen-global-market-analysis-2025
https://www.nxtbook.com/gulfenergyinfo/gulfpub/h2tech-market-data-2024
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q4_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_marketdata_2023
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q3_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_electrolyzerhandbook_2022_v2
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q2_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_electrolyzerhandbook_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q1_2022
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q4_2021
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q3_2021
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q2_2021
https://www.nxtbook.com/nxtbooks/gulfpub/h2tech_q1_2021
https://www.nxtbookmedia.com