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What is the difference between hazard and risk?

To meet international regulatory requirements, and before they can be sold, pesticides must undergo extensive testing. This involves between 250 and 300 individual studies which take many years to complete. The first step in the evaluation of a substance is to understand its intrinsic properties ‐ the hazard. This includes conducting studies to identify any endocrine disruption potential, and to determine any adverse effects which may occur as a result.

The second step is to evaluate the levels to which people or animals are exposed, and to conduct a risk assessment. Clearly, when there is no exposure there can be no risk, regardless of the properties (hazard) of the substance concerned.