This is absolutely important for our own safety and that of everyone else in the lab because in the laboratory we work with a lot of materials that are hazardous and must be handled with care.
The labels on different containers in the lab provide basic warning regarding the contents in the specific container but for more comprehensive information, we need to look at the Material Safety Data Sheet.
The MSDS has information that covers everything from the nature of a substance whether it is hazardous or not, to personal protective equipment and also special emergency procedures in case of any exposure to the chemical.
Therefore to work as safely as possible, we need to read the MSDS of a substance before working with it.