3M will pay up to $12.5 billion to settle an environmental lawsuit brought by cities that claimed the chemicals in the firefighting foam provided to them contaminated drinking water.
On June 22, 3M announced that the settlement will provide funding to public water suppliers nationwide that have detected PFAS in drinking water and other public water suppliers that may detect the chemicals in the future, for treatment technologies.
Under the settlement terms, 3M said it has agreed to contribute up to a present value of $10.3 billion, payable over 13 years. The Wall Street Journal reported the company will pay between $10.5 billion and $12.5 billion.
3M will exit PFAS manufacturing by 2025, said 3M Chairman and CEO Mike Roman in a news release.
“About 300 municipalities, from Philadelphia to San Diego, say PFAS chemicals in firefighting foam leached into drinking water,” WSJ reported. “Cities have sued 3M and other companies to recoup the costs of installing treatment systems.”
PFAS (per-and polyfluoroalkyl substances) are chemicals that resist grease, oil, water and heat. They are used in hundreds of products including stain- and water-resistant fabrics and carpeting, cleaning products, paints and firefighting foams. The strong carbon-fluorine bond of the chemical does not degrade easily, according to the Food and Drug Administration.
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