Hazard
Hazard is the inherent chemical or physical characteristic that has the potential for causing damage to people, property or environment. It is typically the combination of a hazardous material, an operating environment and certain unplanned events that could result in an accident.
Hence, hazard is an intrinsic property, characteristic or condition of a material or the system that has the potential to cause an accident or harm. Risk or danger arises out of hazards.