Except for the fact that the battery generates its own oxygen when "it lets go"
And is a key reason why it is very difficult to put out the fire.......
True, but in a limted quantity that eventually is consumed and the fire self extinguished. Chidren's sparkelers come to mind
In the meantime simply ensure that the thermal heat and products stay confined.
O2 masks ala valujet etal. are yet other examples of controling the risk.