Yes, it is, as of late 2013 under the Globally Harmonized System of Classification and Labeling of Chemicals (GHS).  Initiated in 2003 by the United Nations, the GHS is the international process of classifying health, physical, and environmental hazards to improve the occupational safety and health of workers around the world. 

In the US, these two major systems are used to label hazardous chemicals in the workplace.

> National Fire Protection Association (NFPA) (sample above on left)

> Hazardous Material Identification System (HMIS) (sample above on right)

In the NFPA system, numbers in the red, blue, and yellow quadrants of the square-on-point indicate the degree of hazard.  Numbers ranging from 0 to 4 are shown, with "0" the most hazardous and "4" the least hazardous.

In the HMIS system, numbers in the blue, red, and yellow bands across the square indicate the degree of hazard.  Here again, numbers ranging from 0 to 4 are shown, with "0" the most hazardous and "4" the least hazardous.

This is important for occupational safety and health as heretofore, the numbers were reversed with "0" the least hazardous and "4" the most hazardous.

Confused?  All six emerging lessons in the Occupational Safety and Health cluster describe specifics regarding this new world-wide system of occupational hazard alert.