Definition
An instrument for identifying, analyzing, and controlling hazards associated with the presence of dangerous materials and conditions at a project site. Financiers may require a hazard assessment for projects involving certain inflammable, explosive, reactive, and toxic materials when they are present at a site in quantities above a specified threshold level. For certain projects, the environmental and social impact assessment (ESIA) report may consist of the hazard assessment alone. In other cases, this assessment is part of the ESIA documentation.
Source(s)
Adapted from Asian Infrastructure Investment Bank (AIIB), "Environmental and Social Framework," 2021, View the PDF.