Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study

The impacts of climate change are anticipated to become stronger in the future, leading to higher costs and more severe accidents in the oil industry’s facilities and surrounding communities. Motivated by this, the main objective of this paper is to develop, for the oil industry, a risk assessment m...

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Autores principales:	Theodoros Katopodis, Emmanuel D. Adamides, Athanasios Sfetsos, Antonios Mountouris
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	climate change hazards critical infrastructures oil industry risk matrix climate risk assessment Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/36ac00b9e93e48759342ace0853c3560
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spelling	oai:doaj.org-article:36ac00b9e93e48759342ace0853c35602021-11-25T19:04:38ZIncorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study10.3390/su1322128252071-1050https://doaj.org/article/36ac00b9e93e48759342ace0853c35602021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12825https://doaj.org/toc/2071-1050The impacts of climate change are anticipated to become stronger in the future, leading to higher costs and more severe accidents in the oil industry’s facilities and surrounding communities. Motivated by this, the main objective of this paper is to develop, for the oil industry, a risk assessment methodology that considers future climate projections. In the context of an action research effort, carried out in a refinery in Greece, we adapted the organization’s extant risk management approach based on the Risk Assessment Matrix (RAM) and suggested a risk quantification process that incorporates future climate projections. The Climate Risk Assessment Matrix (CRAM) was developed to be used to assess the exposure of the facility’s assets, including human resources, to future climate risks. To evaluate CRAM, a comparison with RAM for the specific organization for the period 1980–2004 was made. Next, the application of CRAM for the period 2025–2049 indicated that, even though the resilience of the operations of the company to extreme conditions seems adequate at present, increased attention should be paid in the future to the resilience of refinery processes, the cooling system, and human resources. Beyond the specific case, the paper provides lessons for similar organizations and infrastructures located elsewhere.Theodoros KatopodisEmmanuel D. AdamidesAthanasios SfetsosAntonios MountourisMDPI AGarticleclimate changehazardscritical infrastructuresoil industryrisk matrixclimate risk assessmentEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12825, p 12825 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	climate change hazards critical infrastructures oil industry risk matrix climate risk assessment Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	climate change hazards critical infrastructures oil industry risk matrix climate risk assessment Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Theodoros Katopodis Emmanuel D. Adamides Athanasios Sfetsos Antonios Mountouris Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study
description	The impacts of climate change are anticipated to become stronger in the future, leading to higher costs and more severe accidents in the oil industry’s facilities and surrounding communities. Motivated by this, the main objective of this paper is to develop, for the oil industry, a risk assessment methodology that considers future climate projections. In the context of an action research effort, carried out in a refinery in Greece, we adapted the organization’s extant risk management approach based on the Risk Assessment Matrix (RAM) and suggested a risk quantification process that incorporates future climate projections. The Climate Risk Assessment Matrix (CRAM) was developed to be used to assess the exposure of the facility’s assets, including human resources, to future climate risks. To evaluate CRAM, a comparison with RAM for the specific organization for the period 1980–2004 was made. Next, the application of CRAM for the period 2025–2049 indicated that, even though the resilience of the operations of the company to extreme conditions seems adequate at present, increased attention should be paid in the future to the resilience of refinery processes, the cooling system, and human resources. Beyond the specific case, the paper provides lessons for similar organizations and infrastructures located elsewhere.
format	article
author	Theodoros Katopodis Emmanuel D. Adamides Athanasios Sfetsos Antonios Mountouris
author_facet	Theodoros Katopodis Emmanuel D. Adamides Athanasios Sfetsos Antonios Mountouris
author_sort	Theodoros Katopodis
title	Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study
title_short	Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study
title_full	Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study
title_fullStr	Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study
title_full_unstemmed	Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study
title_sort	incorporating future climate scenarios in oil industry’s risk assessment: a greek refinery case study
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/36ac00b9e93e48759342ace0853c3560
work_keys_str_mv	AT theodoroskatopodis incorporatingfutureclimatescenariosinoilindustrysriskassessmentagreekrefinerycasestudy AT emmanueldadamides incorporatingfutureclimatescenariosinoilindustrysriskassessmentagreekrefinerycasestudy AT athanasiossfetsos incorporatingfutureclimatescenariosinoilindustrysriskassessmentagreekrefinerycasestudy AT antoniosmountouris incorporatingfutureclimatescenariosinoilindustrysriskassessmentagreekrefinerycasestudy
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Incorporating Future Climate Scenarios in Oil Industry’s Risk Assessment: A Greek Refinery Case Study

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