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Investors with $8 trillion call for phase-out of dangerous “forever chemicals” – ChemSec [1]

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Date: 2023-05

Investors with US$8 trillion under management and advice are calling on the world’s biggest chemical producers to phase out persistent chemicals as the annual ChemScore ranking, released today, shows the industry is doing little to halt an emerging global crisis.

The 47 asset managers warn that growing awareness of the dangers posed by so-called “forever chemicals” — known as PFAS — that stay in the environment for generations, has triggered an increasing number of lawsuits against companies and sparked action to tighten legislation around the world.

In a letter to CEOs of the biggest chemical companies coordinated by Aviva Investors and Storebrand Asset Management, they wrote:

“We encourage you to lead, not be led, by phasing out and substituting these chemicals. In addition to the financial risks associated with litigation, producers of persistent chemicals face the risk of increased costs associated with reformulating products and modifying processes, which can have significant implications for company performance.”

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[1] Url: https://chemsec.org/investors-with-8-trillion-call-for-phase-out-of-dangerous-forever-chemicals/

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