Glossary

HAZOP is a structured team review of an industrial process design, in which guide words such as no, more or less are applied to each step to find hazards and operating problems.

Hazardous waste management is the controlled identification, labelling, storage, transport, treatment and disposal of waste that is toxic, flammable, corrosive or reactive, to protect people and the environment.

Hedging means taking a second position chosen to gain when an existing exposure loses, so the two largely cancel out.