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All new businesses are required to submit a Hazardous Materials Inventory Statement (HMIS) which lists all hazardous chemicals and quantities on site. A hazardous material as defined by the Fire Code is any solid, liquid or gas that can harm people or other living organisms, property or the environment.
The development of inventories of hazardous wastes provides Parties with information to complete their national reports and to assess the types and quantities of wastes that are generated and assess how these can be managed.
The Hazardous Materials Inventory Statement (HMIS) will communicate all types and quantities of materials that are stored, used and/or manufactured on a property. Evaluation of hazardous materials is necessary for the control and mitigation of dangerous conditions created by hazardous materials.
An Inventory of Hazardous Materials (IHM) helps ship owners maintain control of hazardous materials by detailing the types, quantities and locations of such materials onboard each vessel.
Inventory of Hazardous Material (IHM) is a comprehensive document identifying all potentially hazardous materials onboard a vessel. Hidden hazards are identified, located, and quantified under IMO Resolution guidelines.

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A precautionary statement is a phrase that describes the recommended measure(s) to minimise or prevent adverse effects resulting from exposure to a hazardous substance or mixture due to its use or disposal. Examples of precautionary statements include: wear eye protection.
The significance of IHM in the maritime sector lies in its contribution to the safety of both the crew and the environment. By identifying and documenting hazardous materials on board, IHM helps in the proper management, handling, and disposal of these materials during a ships lifecycle.
IHM is a structured system to control hazardous materials onboard ships and achieve compliance with both (EU SRR) and the Hong Kong Convention (HKC) for the Safe and Environmentally Sound Recycling of Ships.

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