Reframing PSM in the Context of Operational Risk Management and ESG Sustainability

Our industry can achieve more in the way of sustainable process safety improvements relative to Environment, Social, and Governance (ESG) policy. This paper advocates for an “AIPSM” coupling of asset integrity and process safety management systems as per the following:

• Analyze for systemic root cause and publicly report/benchmark near miss and unsafe conditions data of Tier 3 and Tier 4 PSE “free lesson” findings
• Base incident mitigation and management systems on “equipment centric” asset integrity/performance frameworks rather than EHS regulatory compliance reporting platforms
• More effectively integrate equipment with worker and production processes by evaluating process safety impacts as a function of mechanical availability and associated economic impact (lost production)