A Focus on Continuous Improvement in Safety at Dow

Rhea-AI Summary

Dow (DOW) launched two key initiatives in 2022 aimed at reducing unplanned events, particularly Process Safety Containment Events (PSCEs). The PSCE Reduction Effort and the Unplanned Event Reduction Summit provided global guidance with the flexibility to tailor at the site and plant level. The PSCE Reduction Effort involved on-site teams identifying and addressing specific needs and challenges to prevent PSCEs, while the Unplanned Event Reduction Summit brought together global leaders to discuss and address unplanned events, with a focus on the United States and Canada. Both initiatives aimed to minimize the risk of unplanned events and improve safety and reliability in facilities.

Insights

Environmental, Health, and Safety (EHS) Expert

The initiatives launched by Dow in 2022 to reduce Process Safety Containment Events (PSCEs) and other unplanned events are indicative of the company's commitment to enhancing operational safety and reliability. From an EHS perspective, the introduction of the PSCE Reduction Effort and the 'Prevent. Protect. Respond.' campaign are strategic moves to mitigate risks associated with the chemical manufacturing processes.

The focus on tailored approaches at the site and plant level, coupled with leadership engagement in the field, suggests a proactive and decentralized model for safety management. This model could potentially lead to a more effective identification and mitigation of site-specific risks, which in turn, could reduce downtime and improve productivity. The emphasis on staff expertise and technology utilization to minimize risks further indicates Dow's investment in human capital and innovation.

For investors and stakeholders, these initiatives may translate into long-term benefits such as reduced operational costs, avoidance of regulatory fines, and enhanced company reputation. However, the effectiveness of these efforts should be measured against industry benchmarks for safety performance. If Dow's safety incident rates decrease as a result of these initiatives, it could serve as a positive indicator of operational excellence and risk management.

Investment Analyst

As an investment analyst, the information provided about Dow's efforts to reduce unplanned events and enhance process safety is noteworthy. Such initiatives often lead to improved operational efficiency and can be a signal of strong management foresight. Investors typically look favorably upon companies that proactively address safety and reliability issues, as these can have a direct impact on the bottom line through reduced operational disruptions and potential liabilities.

Moreover, Dow's emphasis on technology to minimize risks may suggest ongoing investments in innovation, which could offer competitive advantages and operational improvements. However, the financial implications of these initiatives, such as the cost of implementation and the expected return on investment, are not detailed in the article. Investors would benefit from quantitative data that demonstrates the financial impact of these EHS initiatives on Dow's performance.

It is also important to monitor Dow's future financial statements and ESG reports for tangible outcomes of these initiatives. Should these efforts lead to substantial improvements in safety metrics and financial performance, Dow could be positioned as a leader in operational excellence within its industry.

NORTHAMPTON, MA / ACCESSWIRE / December 18, 2023 / DOW
Originally published in Dow's 2022 INtersections Progress Report

Two key initiatives were launched in 2022 to reduce unplanned events, in particular, Process Safety Containment Events (PSCEs). Both provided global guidance with the flexibility to tailor at the site and plant level.

PSCE REDUCTION EFFORT

In April 2022, Operations and EH&S leadership implemented a new PSCE Reduction Effort. This global effort was designed so that on-site teams identified and addressed specific needs and challenges. Team members
- Dow and contractor - were encouraged to identify potentially unsafe scenarios and mitigations to prevent the occurrence of PSCEs. Leaders increased the amount of time spent in the field with their teams to help set and maintain workplace expectations. This tailored approach allowed us to focus on the most critical opportunities and make a quick impact.

This effort was critical to make a quick impact and it was complemented later in the year with the launch of a new campaign: "Prevent. Protect. Respond." This campaign emphasizes executing fundamentals with excellence and is designed so that facilities can individually customize the focus to address their greatest needs.

UNPLANNED EVENT REDUCTION SUMMIT

Leaders from around the world who work in EHS&S and Operations gathered to discuss and address unplanned events globally, with an emphasis on one of our most challenged regions - the United States and Canada. The global team identified four key areas of focus and teams accountable for progress in each area:

• "Staff to win" by ensuring optimal people resources and expertise at challenged sites and facilities
• Implement improvements to ensure equipment safety and reliability through fixed-asset preventive maintenance
• Establish targets based on the severity of consequence in order to guide corrective actions and prioritize resources
• Continue to use technology to minimize the risk of unplanned events

Read more.

View additional multimedia and more ESG storytelling from DOW on 3blmedia.com.

Contact Info:
Spokesperson: DOW
Website: https://www.3blmedia.com/profiles/dow
Email: info@3blmedia.com

SOURCE: DOW

View the original press release on accesswire.com

FAQ

What initiatives did Dow launch in 2022 to reduce unplanned events?

Dow launched the PSCE Reduction Effort and the Unplanned Event Reduction Summit in 2022 to reduce unplanned events, particularly Process Safety Containment Events (PSCEs).

What was the goal of the PSCE Reduction Effort?

The goal of the PSCE Reduction Effort was for on-site teams to identify and address specific needs and challenges to prevent the occurrence of PSCEs.

What was the focus of the Unplanned Event Reduction Summit?

The Unplanned Event Reduction Summit focused on discussing and addressing unplanned events globally, with an emphasis on the United States and Canada.

How did Dow aim to minimize the risk of unplanned events?

Dow aimed to minimize the risk of unplanned events by implementing improvements in equipment safety and reliability, establishing targets based on severity of consequence, and using technology to prevent unplanned events.