This presentation summarizes findings from a research project examining the fire and life safety hazards associated with stationary, grid-connected lithium-ion Battery Energy Storage Systems (li-ion BESS) in utility-scale, commercial, and industrial applications. The presentation addresses a gap in current guidance by proposing a risk-based evaluation framework to systematically characterize and mitigate BESS hazards in lieu of prescriptive siting guidelines. This presentation will include an overview of identified li-ion BESS hazards (thermal, overpressure, toxic, environmental, electrical, and stranded energy); a review of current scaling and estimation methodologies for worst-case fire, deflagration, and toxic plume scenarios; and mitigation methodologies to reduce the impact of a fire or explosion event. The presentation will also include a case study comparison of historical li-ion BESS incidents to incidents in the industrial and manufacturing sector, with findings suggesting that li-ion BESS installations generally do not present greater risks than industrial facilities for the selected population. The presentation concludes with recommendations for a performance-based, data-driven approach to BESS safety design and a call for continued collaboration among researchers, industry stakeholders, and regulators to responsibly support the rapid growth of BESS infrastructure.