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Chemours, DuPont, and Corteva, three major chemical companies, have reached an agreement to pay over $1 billion to settle claims related to the PFAs contaminating public water systems in the United States. The U.S. District Court for the District of South Carolina must approve the initial settlement.

What are PFAs?

The settlement aims to address the presence of per- and polyfluoroalkyl substances aka PFAs. They are also known as "forever chemicals," because they never go away.

PFAs pose significant health risks to humans and the environment. These synthetic chemicals are found in a myriad of everyday products, including fast-food wrappers, makeup, and carpeting.

The settlement comes after the Environmental Protection Agency (EPA) issued health advisories in June. And acknowledged the heightened dangers of PFAS to human health. 

According to the latest scientific findings, even at levels thousands of times lower than previously believed, these chemicals can cause serious health problems. The EPA advisories shed light on the urgent need for action to address PFAS contamination and its potential consequences.

About the settlement

The mega Chemical companies are facing numerous lawsuits from across the country. 

It is alleged that their manufacturing processes involving these toxic chemicals led to widespread environmental pollution. 

The companies have agreed to contribute a total of $1.185 billion to establish a settlement fund. 

Chemours will provide 50% of the amount, approximately $592 million, while DuPont and Corteva will contribute the remaining 50%, around $400 million and $193 million, respectively. 

The settlement fund will be earmarked to address the affected water systems that serve the majority of the U.S. population.

An agreement-in-principle has been arbitrated, with a more definitive agreement expected to be finalized later this year.

About the Companies

The Chemours Company is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. It has approximately 6,600 employees and serves customers in about 120 countries.

DuPont de Nemours, Inc., is a global provider of technology-based materials and solutions to various industries, including electronics, transportation, and healthcare. 

Corteva, Inc., is a global agriculture company. It addresses a massive market share of fertilizers, seeds, crop protection, and digital products and services.