https://www.nytimes.com/2024/05/28/climate/pfas-forever-chemicals-industry-lawsuits.html
Lawyers to Plastics Makers: Prepare for ‘Astronomical’ PFAS Lawsuits
At an industry presentation about dangerous “forever chemicals,” lawyers predicted a wave of lawsuits that could dwarf asbestos litigation, audio from the event revealed.
By Hiroko Tabuchi, The New York Times, May 28, 2024
…
PFAS, the “forever chemicals” that have emerged as one of the major pollution issues of our time. Used for decades in countless everyday objects — cosmetics, takeout containers, frying pans — PFAS have been linked to serious health risks including cancer. Last month the federal government said several types of PFAS must be removed from the drinking water of hundreds of millions of Americans…
A wide swathe of the chemicals, plastics and related industries are gearing up to fight a surge in litigation related to PFAS, or per- and polyfluoroalkyl substances, a class of nearly 15,000 versatile synthetic chemicals linked to serious health problems.
PFAS chemicals, short for per- and polyfluoroalkyl substances, have been detected almost everywhere scientists have looked: in drinking water, in rain falling over the Great Lakes, even in Antarctic snow. They are thought to be present in the blood of nearly every American. Researchers have linked exposure to PFAS to testicular and kidney cancers, developmental delays in children, decreased fertility, liver damage and thyroid disease. The man-made chemicals are so long-lasting that scientists haven’t been able to reliably identify how long it might take for them to break down… [end quote]
The public health impact is hard to assess since practically every American has been exposed. The liability toward DuPont, Chemours, 3M and their many customers could be ruinous for those companies.
On a separate but related issue…
More and more evidence is accumulating that microplastics (shards of broken down plastics which are ubiquitous in the environment) collect in our bodies and can cause serious health problems. While governments have banned the intentional inclusion of microplastics (such as tiny plastic beads) in products it’s impossible to control the breakdown of the myriad plastic products released into the environment as trash.
I worked in the chemical industry for many years. My lungs were permanently damaged when heated PTFE vapors were re-entrained into my office air supply.
As individuals we need to be aware of the health effects of low-level chronic exposure. As investors we need to be aware that some companies could be hit with massive lawsuits due to this problem. For example, 3M’s share price fell by more than half after 2018. Last year, 3M agreed to pay at least $10 billion to water utilities across the United States that had sought compensation for cleanup costs. That’s probably just the start.
Wendy
