BEGIN:VCALENDAR PRODID:-//Microsoft Corporation//Outlook 16.0 MIMEDIR//EN VERSION:2.0 METHOD:PUBLISH X-MS-OLK-FORCEINSPECTOROPEN:TRUE BEGIN:VTIMEZONE TZID:GMT Standard Time BEGIN:STANDARD DTSTART:16011028T020000 RRULE:FREQ=YEARLY;BYDAY=-1SU;BYMONTH=10 TZOFFSETFROM:+0100 TZOFFSETTO:-0000 END:STANDARD BEGIN:DAYLIGHT DTSTART:16010325T010000 RRULE:FREQ=YEARLY;BYDAY=-1SU;BYMONTH=3 TZOFFSETFROM:-0000 TZOFFSETTO:+0100 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT CATEGORIES:Stage 4 CLASS:PUBLIC CREATED:20230502T105726Z DESCRIPTION:Valuation of the Environment for COMAH Cost-Benefit Analysis\nh ttps://www.chemicalukexpo.com/speakers/carolyn-nicholls/\n \nTime & Locati on\nThursday: 13.45 to 14.00\, Stage 4\n \nSpeaker\nCarolyn Nicholls\, Man aging Director - RAS Ltd\n \nAbout this presentation\nFollowing on from a COMAH environmental risk assessment\, it is often found that the risk is t olerable if As Low As Reasonably Practicable (ALARP). A study is therefor e required to demonstrate the risk is ALARP. This should include potentia l further risk reduction measures and determine which of these are reasona ble to implement. The decision is often based on engineering judgement an d operational feasibility. Where this is not possible\, a cost benefit an alysis (CBA) can be used in support of a decision. One element of a CBA i s the cost of environmental damage (or value of preventing it)\, which req uires assigning an economic value to the environment. There is currently n o guidance or consistency regarding how to go about assigning monetary val ues to Major Accidents to the Environment (MATTEs). Therefore\, the Energ y Institute has commissioned a project aimed at defining a set of values ( e.g. for different MATTE level consequences to different environmental rec eptors). Ultimately\, a guidance document will be produced for risk asses sors\, to inform and justify decisions on any financial values used in cos t benefit analyses focussing on the environment. This presentation provid es background to and an overview of progress on this project.\n DTEND;TZID="GMT Standard Time":20230511T140000 DTSTAMP:20230502T105726Z DTSTART;TZID="GMT Standard Time":20230511T134500 LAST-MODIFIED:20230502T105726Z LOCATION:Stage 4 PRIORITY:5 SEQUENCE:0 SUMMARY;LANGUAGE=en-gb:Valuation of the Environment for COMAH Cost-Benefit Analysis (RAS Ltd) TRANSP:OPAQUE UID:040000008200E00074C5B7101A82E0080000000030BA01D3DE7CD901000000000000000 010000000298B222AFF766F44B4BA5E554BF47202 X-ALT-DESC;FMTTYPE=text/html:\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n

Valuation of the Environment for COMAH Cost-Benefit Analysis< /o:p>

https://www.chemicalukexpo.com/speakers/carolyn- nicholls/

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Time &\; Location

Thursday: 13.45 to 14.00\, Stage 4

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Speaker

Carolyn Nicholls\, Managing Director - RAS Ltd

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About t his presentation

Following on from a COMAH environmental risk assessment\, it is often found that the risk is t olerable if As Low As Reasonably Practicable (ALARP). \; A study is th erefore required to demonstrate the risk is ALARP. \; This should incl ude potential further risk reduction measures and determine which of these are reasonable to implement. \; The decision is often based on engine ering judgement and operational feasibility. \; Where this is not poss ible\, a cost benefit analysis (CBA) can be used in support of a decision.  \; One element of a CBA is the cost of environmental damage (or value of preventing it)\, which requires assigning an economic value to the env ironment. There is currently no guidance or consistency regarding how to g o about assigning monetary values to Major Accidents to the Environment (M ATTEs). \; Therefore\, the Energy Institute has commissioned a project aimed at defining a set of values (e.g. for diff erent MATTE level consequences to different environmental receptors).  \; Ultimately\, a guidance document will be produced for risk assessors\, to inform and justify decisions on any financial values used in cost benef it analyses focussing on the environment. \; This presentation provide s background to and an overview of progress on this project.

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