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“DuPont, Chemours in $4 Billion ‘Forever Chemicals’ Cost Pact”

“DuPont de Nemours Inc. and Chemours Co. agreed to a $4 billion settlement of a dispute over environmental liabilities shifted to Chemours after it was spun off in 2015.

The accord, which also includes DuPont’s former seed business Corteva Inc., covers payments for liabilities tied to a class of chemicals known as PFAS, the companies said in a statement on Friday. DuPont and Corteva will split “certain qualified expenses” 50-50 with Chemours, the companies said. They specified expenses incurred over a term of 20 years or $4 billion at most.

PFAS are widespread in the environment and human blood after decades of use to make things slippery, nonstick or waterproof. Their bonds are so stable that they’re known as “forever chemicals.” Used to make items like carpets, fabrics and firefighting foams, they’ve been found at high levels in some areas, particularly around airports and Air Force bases, prompting concerns about drinking water and creating costs for municipal water systems and states.”

Jef Feeley, Tiffany Kary, and Tony Robinson report for Bloomberg January 22, 2021.