#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:MMM) June 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

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#Energy #Stock News -Okmin (OTCQB: $OKMN) Appoints Energy Expert Dr. John N. O'Brien to its Newly Established Advisory Board

#Energy #Stock News -Okmin (OTCQB: $OKMN) Appoints Energy Expert Dr. John N. O'Brien to its Newly Established Advisory Board

 

Dr. John N. O’Brien brings expertise in both conventional energy and renewable energy technologies

 

Okmulgee, OK – October 19,2023 - Okmin Resources, Inc. ("Okmin or the "Company") (OTCQB: OKMN) a company engaged in the business of acquiring, exploring and developing natural resource assets, today announced that it has established an Advisory Board to include seasoned professionals and industry experts to assist in the development of the Company and that it has appointed Dr. John N. O’Brien as its Senior Advisory Board Member.

 

Read this news, featuring OKMN in full at https://www.investorideas.com/news/2023/energy/10191OTCQB-OKMN.asp

 

Dr. John N. O’Brien brings over forty-five years of experience in the energy business as an energy industry thought leader and an expert in the analysis of economics, regulation and technology in important and emerging energy issues. Dr. O’Brien is a former Commissioner on the Florida Energy Commission and Chair of its Climate Change Subcommittee. Dr. O’Brien previously served for 10 years as a Full Scientist at the U.S. Department of Energy’s Brookhaven National Laboratory in its Department of Nuclear Energy after that and was CEO of several significant energy firms. Currently the President and CEO of Vista Consulting Group, Dr. O’Brien’s areas of expertise include: the regulation and functioning of the electric and natural gas markets and related infrastructure; renewable energy technologies and investment; financial analysis and project finance in the energy sector; applications for small modular nuclear reactors; and other emerging energy technologies. Dr. O’Brien is also a Professor of Public Administration at Flagler College.

 

“We are excited to welcome the esteemed addition of Dr. John N. O’Brien to our newly established Board of Advisors.”, said Okmin’s CEO, Jonathan Herzog. Mr. Herzog continued, “Dr. O’Brien brings extensive knowledge in the broader energy sector, and we look forward to his new Advisory Board role with the Company.”

 

Okmin’s Chairman, Tom Lapinski, continued, “We believe Dr. John N. O’Brien will be a valuable resource for the Company in furthering our current business objectives and in the future should we potentially seek to broaden our activities beyond the development of conventional oil and gas projects.”

 

About Okmin Resources Inc.:

Okmin Resources, Inc. ("Okmin” and the "Company") (OTCQB: OKMN) is a development stage company that is acquiring, exploring and developing natural resource assets. The Company has predominantly been focused on the acquisition and development of domestic oil and gas fields. Okmin's projects are located in Oklahoma and Kansas. The Company’s lease holdings are all within the Cherokee Platform, a geological feature covering an area of northeastern Oklahoma and southeastern Kansas in the mid-continent region of the United States. The Cherokee Platform has been an established oil producing region for the last century. For more information about Okmin, please visit the Company’s website: www.okminresources.com.

 

Okmin is subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and, in accordance with the Exchange Act, the Company files periodic reports, documents, and other information with the Securities and Exchange Commission (the “Commission”) relating to our business, financial statements, and other matters. These filings are available to the public on the Commission’s website at http://www.sec.gov.

 

 

Safe Harbor Provision

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions. These forward-looking statements are based upon current estimates and assumptions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements. This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.

 

Investor & Media Contacts:

Jonathan Herzog, President and Chief Executive Officer

Tel: +1 (818) 201-3727

info@okminresources.com

 

Investor Relations:

Jessica Abaian, Manager

Tel: +1 (818) 201-3727

jessica@okminresources.com

 

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#Cleantech #Podcast – 3M (NYSE: $MMM) #Water friend or foe?

#Cleantech #Podcast – 3M (NYSE: $MMM) #Water friend or foe?

 

October 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/2023/101723-Cleantech.mp3

 

Listen to the cleantech and climate change podcast on Spotify

 

Read this in full at https://www.investorideas.com/news/2023/cleantech-podcasts/10171NYSE-MMM.asp

 

Transcript

 

Good morning and welcome to today’s podcast. Today I want to continue the theme of recent podcasts - looking at the top 100 polluters in different categories with today’s theme once again looking at water. I am featuring 3M (NYSE:MMM) Company's Political Economy Research Institute rank in Toxic 100 Water Polluters: 92.  So, you say, ‘they aren’t as bad as some of the other companies you have featured in the top 10’. You are right, but the reason that they are as toxic as the water they have polluted is that water technology is one of their main areas of business.

 

They say, “Quality water is crucial for many operations within the residential, OEM refrigerator, industrial and commercial food service markets. With over 75 years of experience as a leader in providing water filtration products, 3M Purification Inc. delivers technology that improves water quality.”

 

“At 3M, we strive to use technology and expertise to promote a future of “water circularity” — a future where water stress is eliminated, resources are circulated, and nature is regenerated. We work with water leaders in communities where we operate to help improve water availability and quality, with aspiration toward a net positive water impact.”

 

“As a signatory of the UN CEO Water Mandate and a leading member of the Water Resilience Coalition, 3M’s strategy aligns with the six core focus areas outlined by the Mandate and follows UN Sustainable Development Goal 6 (Clean Water and Sanitation).”

 

3M’s ESG statements from their website: “More than ever, we need science to create a more positive future where everyone can thrive. The resilience of our planet, our people, and our economy depends on it.”

 

“As the expectations of our customers, employees, investors, and stakeholders continue to grow, we set meaningful and measurable goals that demonstrate our ESG commitments and progress. Our employees are driven to pursue these goals and make a difference in the world — and we’re proud of the recognition their efforts have earned for 3M.”

 

So, if all of that is true, can someone please explain to me how they have paid out penalties of $1,045,066,310 for environmental offenses? Here are a few examples and all related to water. 

 

Violation Tracker Individual Record

Company: 3M
Current Parent Company: 3M Company

Penalty: $850,000,000
Year: 2018
Date: February 20, 2018
Offense Group: environment-related offenses
Primary Offense: environmental violation
Violation Description: 3M agreed to pay $850 million in settlement of allegations its production of PFCs had damaged drinking water and natural resources in the Twin Cities area.
Level of Government: state
Action Type: agency action
Agency: Minnesota Attorney General
Civil or Criminal Case: civil

 

Violation Tracker Individual Record

Company: 3M Co.
Current Parent Company: 3M Company

Penalty: $98,400,000
Year: 2021
Date: December 21, 2021
Offense Group: environment-related offenses
Primary Offense: environmental violation
Violation Description: 3M agreed to pay $99 million to settle litigation alleging that one of its manufacturing plants released cancer-linked PFAS chemicals into the Tennessee River in Alabama.
Level of Government: federal
Action Type: private litigation
Court: Northern District of Alabama
Civil or Criminal Case: civil
Case ID: 5:16cv1029
Case Name: Tennessee Riverkeeper Inc v. 3m Company et al
Private Lawsuit Resolution Type: settlement

 

Violation Tracker Individual Record

Company: 3M Company
Current Parent Company: 3M Company

Penalty: $27,000,000
Year: 2023
Date: March 29, 2023
Offense Group: environment-related offenses
Primary Offense: environmental violation
Violation Description: 3M and Wolverine Worldwide together agreed to pay $54 million to settle allegations they were responsible for tainting groundwater in Rockford, Michigan with PFAS forever toxic chemicals. Court documents did not specify how much each company would pay. Here we assume they split the total equally between them.
Level of Government: federal
Action Type: private litigation
Court: Western District of Michigan
Civil or Criminal Case: civil
Case ID: 1:17cv1062
Case Name: Cooper et al v. The 3M Company et al
Private Lawsuit Resolution Type: settlement

 

How can we, as consumers and investors trust these companies and the bodies that regulate them and the coalitions they join, that recognize and reward them, when it’s all just posturing, propaganda and self-promotion?

 

Maybe 3M should change its name to 3P. But if posturing, propaganda and self-promotion warrant the name, I think there are a lot of big corporations bidding for that title.    

 

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

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