Environmental aspects are activities that interact with the environment. ExxonMobil has a five-step process to identify significant environmental aspects, which can be prioritized based on risk. This process can be used throughout a business's life-cycle, from planning to decommissioning. It considers both episodic and continuous aspects, such as releases and resource demand. The process also looks at the environmental, social, and regulatory context, including biodiversity and sensitive ecosystems. By identifying engineering or operating alternatives, additional aspects can be determined. The severity and likelihood of potential impacts are assessed to manage environmental risks effectively.