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CORTEVA, DUPONT, CHEMOURS REACH AGREEMENT ON HOW TO SETTLE "FOREVER CHEMICAL" LAWSUIT
Jan. 25, 2021
POLITICO reports:
A trio of chemical makers reached a $4 billion agreement to settle a legal feud over which company is liable for using toxic "forever chemicals" linked to cancer and other ailments over the course of decades.
Details: A binding memorandum of understanding between DuPont, Chemours and Corteva would create an immediate cost-sharing arrangement and a $1 billion escrow account available for future liabilities related to so-called PFAS chemicals used by the companies prior to Chemours' 2015 spinoff from DuPont. The firms will also pay a combined $83 million to resolve 95 pending cases and related matters.
Big picture: The Biden administration has vowed to aggressively regulate the chemicals, which are used in non-stick food packaging and other products. PFAS don't break down in the environment and are a persistent source of contamination, forcing some farmers to throw out milk, produce and other foods that have been tainted by the chemicals.
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