Government likes to rate chemical plants based on 19 key performance indicators in order to create need for zero accidents in their plants with respect to safety and security and also to provide incentives to good organizations.
I feel this is a beginning and new idea from government. Government should further extend this and ask insurance companies to use this rating while assessing the premiums. Erring companies should be charged high premiums.
But, care is to be taken to ensure that (risk) assessment will be carried out by experts and these experts are selected based on strict parameters. Else, poor assessment leads to wrong faith in the capabilities of chemical plants and its management.
Government proposes safety rating system for chemical plants | Business Standard
The draft document is available from the link as below. Interested parties can send suggestions by end of October 2013. Such suggestions can be sent by e-mail at dirrt1@rediffmail.com; arun.agarwal@nic.in or by post. The department after receiving the comments will incorporate to prepare final documents on “Chemical Plant Safety and Security Rating System”.
http://chemicals.nic.in/Forwd30092013.pdf