Wednesday, December 21, 2022
Bowing To Pressure
3M Corporation is bowing to public and government pressure to end production of "forever chemicals" that don't break down and are seen as hazardous to health. This civic-minded move will cost it more than a billion dollars, although 3M says it is a small part of its revenue stream. It shows the power of public relations that a company voluntarily gives up profitable product. 3M's CEO acknowledged as much by stating that the company is moving toward sustainable growth by "optimizing its portfolio." This might mean that 3M is ready to move away from other chemicals that are controversial and considered health hazards. If so, the company will show that is attuned to public concerns and ready to act. Time will tell.
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