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Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Chemical pollution · United States · 2023–2036

3M booked US$10.3bn charge for US public water PFAS settlement

Short record: the main facts, with sources. A full case file has not been prepared.

Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
Not on record
  • The record does not name which of my species, waters, soils or forests were harmed.
What the record lacks: 3 none on record · 3 insufficient · 1 not measured · 1 unclear See the gaps

3M recorded a pre-tax charge of US$10.3 billion in 2023 for its settlement with US public water suppliers over PFAS, chemicals that persist in the environment. Payments run to 2036.

What?
3M agreed to pay US public water suppliers under a PFAS settlement and booked the cost as a 2023 charge. 3M
Where?
United States, with a separate 2018 settlement in Minnesota
When?
Charge recorded in the second quarter of 2023; payments scheduled 2024 to 2036. 3M
Who?
Gained
  • US public water suppliers — scheduled payments under the settlement, up to US$12.5 billion nominal through 2036 3M
Lost
None on record
Harmed
None on record
Why?
Not stated in the sources reviewed.
How?
Payments are spread over more than a decade, and AIG sued 3M in October 2024 over policy language it said limits or bars coverage for PFAS and pollution claims. FOX 9
6 of 6 questions answered from the record

What happened

The record, in order.

3M recorded a pre-tax charge of US$10.3 billion for the settlement in the second quarter of 2023 (3M results release, 25 July 2023).

The charge is the present value, at a 5.2% discount rate, of US$12.5 billion nominal payable over 2024 to 2036, and it reduced earnings per share by US$14.19 (3M results release, 25 July 2023).

3M announced the settlement with public water suppliers in an April 2024 release (3M, 1 April 2024).

    In court and with insurers

    Every proceeding and every insurer decision on record.

    Lawsuits and rulings

    1. 2024-10–Outcome not on record
      AIG v. 3M (PFAS and pollution coverage)
      Not stated in the sources reviewed · Civil · AIG → 3M

      AIG sued 3M in late October 2024, citing policy language it said limits or bars coverage for PFAS and pollution claims. FOX 9

    Insurers

    No insurer decision on record.

    What we don't know

    Undisclosed, unproven, untried: recorded as data.

    Nature

    • Not measured Harm to nature: The record holds no measurement of harm to nature.

    Court

    • Unclear AIG v. 3M (PFAS and pollution coverage): outcome not on record.

    Record

    • Insufficient Reported but not verified: a court approved the settlement, under which 3M would pay US$10.5 to 12.5 billion through 2036.
    • Insufficient Reported but not verified: the settlement is not an admission of liability, as 3M stated.
    • None on record Not stated: how much of the quarter's total tax benefit of US$2.184 billion relates to the settlement.
    • Insufficient Reported but not verified: a Delaware state court dispute between 3M and excess insurers, reported in a paywalled Law360 item that could not be read.
    • None on record Not stated: whether any insurance recovery has been made, or whether the coverage disputes have been decided.
    • None on record The sources reviewed disclose no insurance link for the 2018 Minnesota settlement.

    Did the harm stop?

    Not stated in the sources reviewed.

    Who paid?

    Not stated in the sources reviewed.

    Sources

    Voices on record: ✓ Company or project— Government and regulators— Courts✓ Press and investigations— Communities and civil society— Researchers

    Company or project

    Press and investigations

    1. 3M PFAS lawsuits: AIG
      FOX 9 · 2024-10

    Connected cases

    Related matters, and cases linked to this one through the same organisations, with the role each played in both.
    Terms used on this page

    Science and environment

    PFOA (C8) and PFAS
    PFAS are a large family of human-made chemicals that persist in the environment and the body; PFOA, also called C8, is one of them and was used to make Teflon.

    Bonds and banking

    Delaware, Guernsey, Cayman Islands
    Jurisdictions widely used to register companies, funds and accounts for legal, confidentiality and tax reasons.
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