Lloyd's Register Foundation, in collaboration with The National Safety Council, has launched a groundbreaking new report, New Value of Safety in a Changing World, which underscores the importance of embracing modern safety approaches and the profound impact of environment, health, and safety initiatives on organizations and society at large. The report dives into the interconnectedness of safety, sustainability and societal responsibility, marking a significant step forward in contemporary workplace safety.
“Feeling and being safe is a fundamental condition for our wellbeing but health and safety interventions in the workplace are often taken for granted and undervalued,” said Dr Ruth Boumphrey, Chief Executive Officer at Lloyd’s Register Foundation. “This groundbreaking research makes us rethink the value we put on safety and makes the case for better investment and support for new health and safety approaches.”
This in-depth research delves into the critical role EHS plays in today's dynamic landscape, bridging scientific advancements, technological innovations, regulatory transformations and the pursuit of holistic wellbeing. It explores the convergence of safety with environment, social, and governance considerations, emphasizing the interconnectedness of these factors in shaping modern safety excellence.
“This report highlights the intricate relationship between EHS, sustainability and societal wellbeing, offering valuable insights into the transformative power of modern safety tools and initiatives," said John Dony, vice president of workplace strategy at the National Safety Council. “In an era defined by technological leaps, global wellbeing and economic challenges, and shifting cultural norms, understanding and embracing the critical role safety – and all it encompasses – plays in the workplace is a must, and it needs to start with an expanded, holistic approach. This report will not only help decision-makers advance safety but will also help workers across the globe live their fullest lives.”
The New Value of Safety in a Changing World report highlights the following findings:
- Holistic Approach: Modern safety programs extend beyond physical safety and direct cost reduction. The research identifies Human and Organizational Performance, Total Worker Health, and ESG as integral concepts that collectively drive value creation across various domains.
- Value Generation Areas: The Hierarchy of EHS Value illustrates how EHS programs generate value across eight distinct areas: health, economic, environment, sustainability, resilience, ethics, society, and reputation. The report elucidates the intricate relationships among these areas, underscoring their interconnectedness.
- Integrated Initiatives: Themes such as diversity, equity, and inclusion, mental health and sustainability intertwine across Total Worker Health and ESG. Integrating these areas offers compelling benefits, including increased trust, enhanced reputation, and better overall resilience.
- Future-Ready Strategies: The report advocates for businesses to embrace a holistic safety approach and adapt to the changing regulatory and standards landscape. Organizations are encouraged to implement tailored interventions based on the profiled themes to drive value creation.
This new report is significant in guiding safety professionals, business executives, investors and policymakers. I't's distinct concepts and actionable insights empower stakeholders to engage with the benefits of modern EHS initiatives and make informed decisions related to safety strategies, best practices, investments and performance tracking.
To facilitate the adoption of the report’s insights, NSC has developed an activation guide to equip organizations with practical tools to implement continuous improvement strategies and navigate the evolving EHS landscape.
For more information on the new value of safety, please visit: https://www.lrfoundation.org.uk/en/news/new-valuation-safety/