An estimated 64 million people across the U.S. are affected by drinking water contaminated with the chemicals.
, resolving the companies' responsibility for damage in those states.
"There was a big analysis done a number of years ago of different water municipalities that found that about 1% of all municipal water sources did contain some level of PFAS," Gottlieb said. The company, formerly E.I. du Pont de Nemours, separated its chemical businesses in 2015, forming Chemours Company. It then merged with Dow in 2017 to create DowDuPont, and then subsequently split into three separate entities in 2019: Corteva Agriscience, Dow and the new DuPont.
"At this stage, given valuation and what we know about the PFAS litigation, we do consider 3M to be uninvestable at this point," Dray told CNBC.3M Global Headquarters in Maplewood, Minnesota, US, on Thursday, Jan. 26, 2023. 3M is showing signs it may be feeling the pressure: In its latest earnings report it revealed a restructuring plan that included layoffs affecting 6,000 employees around the world that the company says will save up to $900 million a year. It's also planning to spin off its health-care business in early 2024, which analysts say will generate billions of dollars in capital..
RBC's Dray added that there is national security interest in extending the use of PFAS due to a lack of alternative options on the market.In the meantime, scientists and industrial experts are in an arms race to develop a safer substitute to PFAS. Others are researching technologies that use electrification and heat to break down synthetic chemicals as well as treatment options for exposed areas.
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