Societal Cost of 'Forever Chemicals' Estimated at Over $17,000,000,000,000
An upcoming report by Sweden-based organization ChemSec will detail the costs of the continued use of so-called "forever chemicals" which go overlooked by their manufacturers—the "societal" price that individuals and governments pay as the chemicals remain in the environment long after they are used in a range of products.
Factoring in soil and water remediation, monitoring of pollution, and healthcare costs associated with a number of health problems linked to per- and polyfluorinated substances (PFAS), the cost to society of using the chemicals totals about $17.5 trillion every year.
ChemSec has worked with investment firms to pressure companies to eliminate the use of PFAS, which have earned the nickname "forever chemicals" because they do not naturally degrade and have been detected in breastmilk, wildlife, and drinking water samples.
Major manufacturers of PFAS include Chemours, Solvay, Daiki, Honeywell, Bayer, and 3M—the last of which announced this year it will discontinue the use of the synthetic compounds.
While manufacturers typically prioritize their profit margins and shareholder rewards over public health and safety, ChemSec found that these companies bring in relatively little money each year from using PFAS, compared to their cost to society.
The use of forever chemicals yields only about $4 billion each year, according toThe Guardian, which reported on ChemSec's findings ahead of the release of the analysis.
"If you compare the profits that they make and the cost to society—it's ridiculous," Peter Pierrou, communications director for ChemSec, told The Guardian.
When accounting for the societal cost of using PFAS to make a range of products heat-, water-, and stain-resistant, the price of the chemicals is more than $20,400 per kilogram rather than the recognized average market price of about $20.75.