Chemical manufacturer 3M Co. has agreed to pay at least $10.3 billion to settle lawsuits over contamination of many U.S. public drinking water systems with potentially harmful substances known as ‘forever chemicals’.
The settlement, announced on Wednesday, covers more than 100 lawsuits filed by states, municipalities, water utilities and individuals who claimed that 3M’s production and disposal of perfluoroalkyl and polyfluoroalkyl substances (PFAS) polluted their water sources and caused health problems.
PFAS are a group of man-made chemicals that have been widely used since the 1940s in products such as nonstick cookware, stain-resistant fabrics, firefighting foam and industrial processes. They are called ‘forever chemicals’ because they do not break down easily in the environment or the human body.
Some studies have linked exposure to PFAS to increased risks of cancer, thyroid disease, low birth weight and other health issues.
3M said it will pay $6.7 billion into a fund that will be used to reimburse plaintiffs for past and future costs of treating PFAS-contaminated water, as well as providing alternative water sources, testing and monitoring. The company will also pay $3.6 billion into a separate fund that will be used to compensate plaintiffs for personal injury claims and property damage.
The settlement does not include any admission of liability or wrongdoing by 3M, which has maintained that its PFAS products are safe and that it acted responsibly in managing them.
‘This agreement is a win-win for all parties and the environment,’ said John Banovetz, 3M’s chief technology officer, in a statement. ‘It removes uncertainty for 3M and its shareholders, provides fair compensation to current and potential plaintiffs, and enables 3M to continue investing in innovative solutions for environmental challenges.’
The settlement is subject to approval by a federal judge in Michigan, where most of the lawsuits were consolidated.
