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Friday, November 17, 2023

#Cleantech #Podcast – #ForeverChemicals and the DuPont (NYSE: $DD) Handbook –Spin, Deny, Delay $CC $CTVA



 

 

#Cleantech #Podcast – #ForeverChemicals and the DuPont (NYSE: $DD) Handbook –Spin, Deny, Delay $CC $CTVA

 

November 17, 2023 - Investorideas.com, a global news source and leading investor resource covering cleantech stocks issues a new edition of the Cleantech and Climate Change Podcast.     

 

Listen to the Podcast:

https://www.investorideas.com/Audio/Podcasts/2023/111723-Cleantech.mp3

 

Read this in full at https://www.investorideas.com/news/2023/cleantech-podcasts/11171DuPont.asp

 

Listen to the cleantech and climate change podcast on Spotify

 

Transcript:

 

Good morning and welcome to today’s podcast. Today I would like to pose the question, ‘What happens when a company contaminates us with chemicals that last forever, poisoning our water and soil for generations to come?’  Well, if you are DuPont (NYSE: DD), you have a readymade handbook to create spin-offs, delay court proceedings, deny any wrongdoing and pay settlement fines, only if necessary and just go about your business as always.

 

To explain in simple terms what these forever chemicals are and the massive problems they represent, NRDC.org (the Natural Resources Defense Council) one of the organizations attempting to holding polluters accountable, explains:

 

“Nonstick cookware, grease-resistant food packaging, and waterproof clothing are all products that make our daily lives less messy, but that convenience comes at a cost.

 

A class of manmade chemicals known as PFAS—which stands for per- and polyfluoroalkyl substances—is part of what makes these consumer goods water-, stain-, and grease-resistant. PFAS are also toxic at extremely low levels (i.e. parts per quadrillion), posing significant risks to our health. And if you’re wondering why they’re called “forever chemicals,” it’s because they are nearly indestructible.

 

Unfortunately, PFAS are almost impossible to avoid. They are found in our homes, our offices, our supermarkets—practically everywhere.”

 

 

If you spend a few moments online searching for PFAS litigation against Dupont, you will find a very long historical list of litigation that has been in court for years. Dupont and other large corporations like them play the long game and are willing to pay the big legal bills while they create corporate spin-offs, change the name of their products and keep generating profits.

 

Violation tracker reports a penalty total since 2000 of $1,287,936,396 and number of records: at 241, of which environmental violation penalties were $648,481,945 with 177 records.

 

In June of this year, The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) announced they reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.

 

Continued from their news: The class includes water systems with a current detection of PFAS1 at any level and those that are currently required to monitor for the presence of PFAS under EPA monitoring rules2 or other applicable laws. This includes but is not limited to systems in the South Carolina aqueous film-forming foam multi-district litigation.

 

The companies will collectively establish and contribute a total of $1.185 billion to a settlement fund (“water district settlement fund”). Contribution rates will be consistent with the binding Memorandum of Understanding between the companies reached in January 2021, with Chemours contributing 50 percent (about $592 million), and DuPont (about $400 million) and Corteva (about $193 million) collectively contributing the remaining 50 percent. The settlement amounts will be funded by the companies in full and deposited into the water district settlement fund within ten business days following preliminary approval of the settlement by the Court.   

 

DuPont generated over 13 billion U.S. dollars of revenue in 2022. Corteva’s revenue for the twelve months ending September 30, 2023 was $17.344 billion. Chemours 2022 Net Sales were $6.8 billion.

 

Just to clarity, this incestuous pool of players are all spin-offs of the same company. The Chemours Company is an American chemical company that was founded in July 2015 as a spin-off from DuPont.

 

And then you have to look at the Dow (NYSE: DOW)/Dupont (NYSE: DDmerger (Aug. 31, 2017) that later changed again. The dissolution of DowDuPont was completed on June 1, 2019, splitting the company into three different segments; Dow, Dupont, and Corteva.

 

Dupont explains to shareholders: “When our company was created through the merger of equals transaction between The Dow Chemical Company and E. I. du Pont de Nemours and Company, we announced our intention to separate into three independent, publicly traded companies – one for each of our agriculture, materials science and specialty products businesses. On April 1, 2019, we completed the separation of the materials science business through the spin-off of Dow Inc.  and our stockholders received one (1) share of Dow stock for every three (3) shares of DowDuPont common stock held on that date. This is what we refer to as the Dow Distribution.

 

On June 1, 2019, we completed the separation of the agriculture business, through the spin-off of Corteva, Inc.  and our stockholders received one (1) share of Corteva common stock for every three (3) shares of DowDuPont common stock they held on that date. This is what we refer to as the Corteva Distribution. In both cases, DowDuPont stockholders received or will receive cash in lieu of any fractional shares of the common stock of Dow Inc. or Corteva, Inc.”

  

This is clearly a gameplay that they took from Abbott and Costello – Who’s on First.

 

So why so many spin-offs? An article from Promarket.org entitled “How Companies Spin off Environmental Liabilities to Avoid Legal Obligations” gives some insight.

 

“In 2015, DuPont spun off specialty chemicals businesses into a separate company called Chemours. Chemours produced fluoroproducts, the most famous of which was Teflon, and other performance chemicals.

 

Within a year, Chemours lost three consecutive cases finding perfluorooctanoic acid (otherwise known as PFOA or C-8, an input in the production of Teflon) was responsible for a range of diseases, including cancer. While the individual awards were small, amounting to several hundred thousand dollars to a few million each, the number of cases exceeded 3,400.

 

In 2017, the company, jointly with DuPont, agreed to pay $671 million to settle certain claims involving PFOA—with each company responsible for half.

 

This settlement did not put Chemours’ legacy liabilities behind it. In 2019, the company sued its former parent alleging its environmental liabilities greatly exceeded those reported at spin: $2.5 billion, or five times the amount accrued. Liabilities included those unrelated to performance chemicals, including DuPont’s legacy exposure to explosives, asbestos, and benzene. Chemours received two-thirds of DuPont’s environmental liabilities but only 19 percent of revenue—in addition to $4 billion in debt.

 

The judge dismissed the lawsuit—ruling no jurisdiction—and sent the matter to arbitration. A settlement has not been reached.”

 

So did Dupont know what was happening all along?

 

UCSF has reported “According to a 1970 internal memo, DuPont-funded Haskell Laboratory found C8 (one of thousands of PFAS) to be “highly toxic when inhaled and moderately toxic when ingested.” And in a 1979 private report for DuPont, Haskell labs found that dogs who were exposed to a single dose of PFOA ‘died two days after ingestion.”

 

What you invest in is ultimately up to you. All I ask is that you become informed, awake and discerning. It is one thing to lose or make money; I love the possibility of making money in the stock market. Companies succeed and some fail - that’s the risk.

 

It is a whole other game to invest in a company that poisons a planet.

 

About podcast host:- Dawn Van Zant – founder of Investorideas

Dawn Van Zant is a female pioneer in the financial markets sitting in every seat as a trader, a broker, IR and PR before finally starting Investorideas. She has been featured in interviews in Business Week, CNN Financial TV, CBS Market watch radio and other financial publications online, radio and print, talking about renewable energy, water and homeland defense stocks.

 

 

If you are a small company doing big things to benefit our water and our environment I would love to hear from you and tell your story.

 

Thanks, that’s it for today. Do something good for this beautiful planet each and every day.

 

 

If you would like to be a guest on this podcast and tell your story please call me at 800 665 0411

Or reach out at Linkedin

 

Visit the Cleantech and Climate Change Podcast page at Investorideas.com

 

The Investorideas.com podcasts are also available on iTunes (Apple Podcasts), Amazon, Audible, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, and most audio platforms available.

About Investorideas.com - Big Investing Ideas

Investorideas.com is a platform for investing ideas. We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders.  Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast ,  Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast.  We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.

Public companies within the sectors we cover can use our news publishing

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp  Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ .Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow us on Twitter https://twitter.com/Investorideas

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Contact Investorideas.com

800-665-0411

 


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Monday, November 6, 2023

Investorideas #Podcast Recognized as Leading #Cleantech Podcast



 

 

Investorideas #Podcast Recognized as Leading #Cleantech Podcast

 

November 6, 2023 - Investorideas.com, a global news source and leading investor resource covering cleantech stocks is pleased to report its Cleantech and Climate Change Podcast  hosted by founder Dawn Van Zant has been recognized as a top cleantech podcast by several industry rating sites.     

 

Read this in full at https://www.investorideas.com/news/2023/cleantech-podcasts/11061Leading-Cleantech-Podcast.asp

 

15 Best Clean Technology Podcasts You Must Follow in 2023

https://podcasts.feedspot.com/clean_technology_podcasts/

 

7 Best Sustainability Podcasts: Cleantech, Business, Innovation

https://www.npws.net/blog/best-sustainability-podcasts

 

Player FM best cleantech podcasts

https://player.fm/podcasts/Cleantech (Investorideas)

 

Recent episodes

 

Cleantech Podcast - Forever Chemicals in our Water - Does the Billions 3M (NYSE: MMM) and DuPont (NYSE: DD) Pay in Settlements Make a Difference?

Cleantech Podcast - 3M (NYSE: MMM) Water friend or foe?

Cleantech Podcast - Dow Inc. (NYSE: DOW) Ranked 4th in Top 100 Water Polluters

Cleantech Podcast - Berkshire Hathaway's (NYSE: BRK.A; BRK.B) Pollution Legacy Versus its Propaganda

 

About podcast host:

Dawn Van Zant is a female pioneer in the financial markets sitting in every seat as a trader, a broker, IR and PR before finally starting Investorideas. She has been featured in interviews in Business Week, CNN Financial TV, CBS Market watch radio and other financial publications online, radio and print, talking about renewable energy, water and homeland defense stocks.

 

If you would like to be a guest on this podcast and tell your story please call me at 800 665 0411

Visit the Cleantech and Climate Change Podcast page at Investorideas.com

 

Vist the full list of Investor ideas podcasts

https://www.investorideas.com/Audio/

 

The Investorideas.com podcasts are also available on iTunes (Apple Podcasts), Amazon, Audible, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, and most audio platforms available.

About Investorideas.com - Big Investing Ideas

Investorideas.com is a platform for investing ideas. We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders.  Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast ,  Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast.  We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.

Public companies within the sectors we cover can use our news publishing

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp  Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ .Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

 

Contact Investorideas.com

800-665-0411

 


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Friday, November 3, 2023

#Cleantech #Podcast – #ForeverChemicals in our #Water – Does the Billions 3M (NYSE: $MMM) and DuPont (NYSE: $DD) Pay in Settlements Make a Difference?


 


 

#Cleantech #Podcast – #ForeverChemicals in our #Water – Does the Billions 3M (NYSE: $MMM) and DuPont (NYSE: $DD) Pay in Settlements Make a Difference?

 

November 3, 2023 - Investorideas.com, a global news source and leading investor resource covering cleantech stocks issues a new edition of the Cleantech and Climate Change Podcast.     

 

Listen to the Podcast:

https://www.investorideas.com/Audio/Podcasts/2023/110323-Cleantech.mp3

 

Read this in full at: https://www.investorideas.com/news/2023/cleantech-podcasts/110313M-DuPont.asp

 

Listen to the cleantech and climate change podcast on Spotify

 

Transcript:

 

Good morning and welcome to today’s podcast. Today I would like to pose the question – does the billions that companies like 3M (NYSE:MMM) and DuPont (NYSE: DD) pay in settlement for water contamination with PFAS make a difference if these chemicals are forever chemicals? 

 

CanadianUnderwriter.com explains in simple language, “Also known as ‘forever chemicals,’ PFAS are a group of synthetic chemicals that have chains of carbon-fluorine bonds. These bonds do not degrade easily in the environment and are incredibly difficult to break.” 

 

“PFAS is water- and oil-proof and is present in countless products: non-stick cookware, pizza boxes, popcorn bags, dental floss and water-proof cosmetics, to name a few. PFAS are also a major component in firefighting foam, which is effective in quashing grease and oil fires.”

 

The sad truth is that in spite of the fines and settlements it continues. 3M has announced it will discontinue the use of PFAS across its product portfolio by the end of 2025.

 

The Washington Post reported in March, the Environmental Protection Agency proposed the nation’s first drinking-water standards requiring water utilities to reduce levels of PFAS — perfluoroalkyl and polyfluoroalkyl substances. The key word here is ‘reduce’.

 

ACS Publications reported that Research has suggested over 200 million Americans likely drink water contaminated with PFAS chemicals, which have been linked to a host of health issues, including cancer.

 

But up until now, the pollutants have only been regulated by some US states.

The US has now issued a rule that would require communities to test and treat water for six of the chemicals.

 

The BBC reported “Through its infrastructure law, the Biden administration has dedicated $5B to address water contaminants like PFAS, $2B of which is designated for disadvantaged communities. Still, that may not be enough.”

 

“But while cleaning up the chemicals marks an important first step to protecting Americans' health, the most safe and cost-effective method would be to limit the manufacturing of the chemicals, experts said.”

 

"You have to turn it off at the source," said Dr. Kwiatkowskiof of the Green Science Policy Institute, an environmental advocacy organisation.

 

 "It doesn't make any sense to keep cleaning them out of the water if we keep putting them back in."

 

CanadianUnderwriter.com notes –“Nearly 15,000 synthetic chemicals qualify as PFAS, according to the U.S. Environmental Protection Agency. But exposure to PFAS can have adverse health effects, like mimicking our bodies’ fatty acids and disrupting hormone production or insulin regulation.  

 

Over 6,500 PFAS lawsuits have been filed in the U.S. over the last 20 years. In June  consumer goods manufacturer 3M reportedly reached a $10.3-billion settlement for its public water system contamination suit in the U.S.“

 

Looking at the 3M (NYSE:MMMJune SEC filing, it is clear that these companies will settle on conditions that work for them in the long run and with no admission of guilt.  

 

On June 22, 2023, 3M Company (“3M”) entered into a proposed class-action settlement (“Settlement”) to resolve a wide range of drinking water claims by public water systems (“PWS”) in the United States regarding any per- or poly-fluoroalkyl substance (“PFAS”), subject to court approval. Eligible class members are United States public water systems as defined in the Settlement. Subject to court approval, the Settlement would resolve a portion of 3M’s PFAS-related multidistrict litigation that involves PWS drinking water claims in the United States by providing funding for treatment technologies to PWS that have tested positive for PFAS, funding for future testing, and funding for systems that test positive in the future.

 

Under the Settlement, class members would agree to release 3M from any claim arising out of, relating to, or involving (i) PFAS that has entered or may enter drinking water or the class member’s water system; (ii) the development, manufacture, formulation, distribution, sale, transportation, storage, loading, mixing, application, or use of PFAS or any product (including aqueous film-forming foam (“AFFF”)) manufactured with or containing PFAS; (iii) the transport, disposal, or arrangement for disposal of PFAS-containing waste or PFAS-containing wastewater, or a class member’s use of PFAS-containing water for irrigation or manufacturing; or (iv) representations about PFAS or any product (including AFFF) manufactured with or containing PFAS. The Settlement would also require class members to release punitive- or exemplary-damages claims that arise out of conduct occurring at least in part before the Settlement’s effective date and that relate to PFAS or any product (including AFFF) manufactured with or containing PFAS.

 

If the court approves the Settlement and all conditions in the Settlement are met, 3M will pay $10.5 billion to $12.5 billion in total to resolve the claims released by the Settlement. The Settlement calls for 3M to make payments annually from 2024 through 2036. The actual amounts that 3M will pay will be determined in part by which, if any, class members that do not have a positive test result for the presence of PFAS in their drinking water (as defined by the Settlement) as of the date of the Settlement receive such a test result by the end of 2025.

 

The Settlement gives 3M the option to terminate the Settlement if the numbers of eligible class members opting out of the Settlement exceed specified levels.

 

The Settlement provides that 3M does not admit any liability or wrongdoing and does not waive any defenses.

 

According to June article in Time Magazine, “As the evidence of the dangers of PFAS mounted—both from company research and independent studies—3M and DuPont began covering up what they were learning.”

 

And to scare you more, this is not just isolated to water,

 

NRDC.org said in April, “Whether found in a raincoat or a pair of yoga pants, PFAS are used widely in our clothing, shoes, and accessories. These chemicals also cause pollution at every stage of production. At the PFAS chemical manufacturing facilities and garment factories, they often contaminate the air, water, and soil of the surrounding environment.”

 

In our next podcast I will drill down on DuPont and its never ending list of lawsuits and settlements. And like the irony of other podcasts showing these serial contaminators – they too have an ESG and sustainability strategy.

 

ESG policy now means nothing, and they should flush it down the drains with their other toxic chemicals.

 

Investors don’t be woke – be awake!

 

If you are a small company doing big things to benefit our water and our environment I would love to hear from you and tell your story.

 

Thanks, that’s it for today. Do something good for this beautiful planet each and every day.

 

If you would like to be a guest on this podcast and tell your story please call me at 800 665 0411

Visit the Cleantech and Climate Change Podcast page at Investorideas.com

 

The Investorideas.com podcasts are also available on iTunes (Apple Podcasts), Amazon, Audible, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, and most audio platforms available.

About Investorideas.com - Big Investing Ideas

Investorideas.com is a platform for investing ideas. We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders.  Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast ,  Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast.  We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.

Public companies within the sectors we cover can use our news publishing

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp  Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ .Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

 

Contact Investorideas.com

800-665-0411

 


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