The claim that PFAS are critical to the green economy is complete hyperbole | ChemSec
Toxic PFAS chemicals, used in a multitude of consumer products during the last decades, are on everyone’s lips these days. In fact, if you are wearing lipstick, there’s a good chance that you, literally, have these cancer-causing chemicals on your lips.
Following the extensive industrial use of PFAS, research shows that 98 percent of humans have PFAS in their blood. Unfortunately, that means you, and your kids, too. In addition, a recent newsroom investigation revealed that at least 17,000 sites all over Europe are contaminated with PFAS – and that’s a conservative estimate.
As a result, EU policymakers are now drumming up a ban on PFAS so extensive that it is unprecedented in the history of chemicals legislation. Institutional investors, too, are starting to realize that PFAS are a systemic risk that must be tackled. Over 50 investors, collectively managing or advising assets exceeding $11 trillion, have launched the Investor Initiative on Hazardous Chemicals (IIHC). This initiative, coordinated by ChemSec, asks chemical producers to phase out PFAS, or forever chemicals as they are called, due to nature being unable to break them down.
No wonder chemical companies are backing down. For example, chemical giant 3M, one of the world’s PFAS OG’s, recently announced it will stop producing forever chemicals. The decision has undoubtedly been fueled by the fact that since 2020, at least three PFAS-linked lawsuits a day have been filed against 3M, which have made a massive dent in the company’s stock price.
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