The decision follows an assessment of the external environment factors such as regulatory trends focused on reducing or eliminating the presence of PFAS, and shifting stakeholder expectations
3M will stop per- and polyfluoroalkyl substance (PFAS) production and its use by 2025. (Credit: 3M)
American industrial firm 3M has unveiled its plans to stop per- and polyfluoroalkyl substance (PFAS) production and its use across the product portfolio by the end of 2025.
PFAS are manufactured chemicals that are used in making products across several industry verticals such as medical technologies, semiconductors, batteries, phones, automobiles, and airplanes. They are known to take a long time to break down.
The company said that the decision was taken after careful consideration and a thorough assessment of the changing external environment including expanding regulatory trends that are aimed at reducing or eliminating the presence of PFAS in the environment, and shifting stakeholder expectations.
By the end of 2025, 3M will stop producing all fluoropolymers, fluorinated fluids, and PFAS-based additive products. The firm will also help in a phase-wise transition for customers. 3M aims to meet its current contractual obligations during this transition period.
As per the US-based industrial firm, it has reduced the use of PFAS over the past three years and will continue to develop new solutions for customers.
The plans will help 3M to develop a world less reliant on PFAS. It will also continue to remediate PFAS and address litigation by defending itself in court or through negotiated resolutions.
3M chairman and CEO Mike Roman said: “This is a moment that demands the kind of innovation 3M is known for.
“While PFAS can be safely made and used, we also see an opportunity to lead in a rapidly evolving external regulatory and business landscape to make the greatest impact for those we serve.
“This action is another example of how we are positioning 3M for continued sustainable growth by optimising our portfolio, innovating for our customers, and delivering long-term value for our shareholders.”
The steps are expected to result in pre-tax costs of $1.3bn to $2.3bn. 3M’s annual net sales of manufactured PFAS are about $1.3bn.