3M settles water contamination lawsuits with $10.3B payout

Chemical manufacturing company 3M agreed to settle multiple lawsuits with a $10.3 billion payout over the U.S. water supply being allegedly contaminated with "forever chemicals" contained in firefighting foam and other products, the company announced in a press release on Thursday. 

Under the settlement, 3M will provide the payout over a 13-year period to both public water suppliers that have found traces of Per- and polyfluoroalkyl substances (PFAS) and other suppliers that "may detect PFAS at any level in the future." The company did not admit liability in the settlement. 

PFAS are a class of thousands of chemicals that are widely used throughout the globe in consumer products like cookware, food packaging, clothing and more. The Environmental Protection Agency (EPA) has dubbed them an "urgent public health and environmental issue" as research has linked them to increased risk of cancer, developmental delays in kids, and more.

Stuart, Florida, sued 3M in 2018 claiming the firefighting foams it made or sold contained PFAS and had entered into the soil and water supply. According to Reuters, 3M and companies like it have had over 4,000 lawsuits against them along the same lines.

A top lawyer representing water suppliers against 3M said the settlement is the largest of its kind in American history. The money "will be used to help filter PFAS from drinking water that is served to the public," and will provide millions of citizens with PFA-free drinking water.

3M CEO Mike Roman issued a statement calling the multi-billion dollar settlement "an important step forward" for the company "which builds on our actions that include our announced exit of PFOA and PFOS manufacturing more than 20 years ago."

He then said the company will cease "all PFAS manufacturing by the end of 2025."

This settlement does not include PFAS-related lawsuits the company still faces that were filed by individuals or states claiming injuries or damages.  

Follow Addison on Twitter.