Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Holistic Environmental Risk Index for Oil and Gas Industry in Colombia

Version 1 : Received: 13 February 2024 / Approved: 13 February 2024 / Online: 13 February 2024 (15:41:16 CET)

A peer-reviewed article of this Preprint also exists.

De Luque-Villa, M.A.; Robledo-Buitrago, D.A.; Gómez-Rendón, C.P. Holistic Environmental Risk Index for Oil and Gas Industry in Colombia. Sustainability 2024, 16, 2361. De Luque-Villa, M.A.; Robledo-Buitrago, D.A.; Gómez-Rendón, C.P. Holistic Environmental Risk Index for Oil and Gas Industry in Colombia. Sustainability 2024, 16, 2361.

Abstract

Risk management for technological hazards mainly focuses on the consequences on human lives. Although technological risk analysis evaluates environmental vulnerability, it does not reflect the consequences on environmentally exposed elements, such as rivers, water springs, flora, and fauna. This paper's objective was to propose a conceptual framework and create a multidisciplinary evaluation model for environmental risk analysis in the oil and gas industry. Initially, the problem was approached from a global perspective to justify the necessity of a holistic environmental risk analysis methodology in the oil industry, using environmental risk factors as well as underlying factors, such as environmental fragility and lack of resilience. The holistic assessment was carried out based on probabilistic risk analysis methodologies to obtain a holistic environmental risk index, HERI. This methodology was applied to an oil and gas industry company in Colombia. This allowed greater disaggregation of the results to establish priorities for risk reduction actions and identify the company's weaknesses.

Keywords

environmental risk index; holistic approach; environmental fragility; aggravating factors; oil and gas industry

Subject

Environmental and Earth Sciences, Environmental Science

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