The Rising Influence of Rising Affluence

[DewDiligence]

3M increases PFAS remedial work in Belgium:

https://finance.yahoo.com/news/3m-advances-actions-environmental-stewardship-130000691.html

3M today announced an additional investment of 150 million Euro to proactively advance remedial actions for the Zwijndrecht community to address legacy manufacturing and disposal of per- and polyfluoroalkyl substances (PFAS). This is in addition to investments and actions the company has taken to further reduce PFAS discharges and emissions, continue running non-PFAS related manufacturing, and re-start previously idled PFAS-related manufacturing processes.

…3M expects to record a €150M] charge in the first quarter of 2022 associated with the estimate of this phase of remediation…

3M’s plant in Zwijndrecht (Antwerp), Belgium has been a source of litigation with the government authorities, as described at length in the most recent 10-K filing (https://www.sec.gov/ix?doc=/Archives/edgar/data/0000066740/000006674022000010/mmm-20211231.htm#i04254fc6fdb847859444e33430354842_184 page 101).