“Asbestos also had amazing properties”
PFAS are in our water, our nature, and our bodies. And they will never go away. ChemSec encourages investors, companies, and policymakers to take action against the use of hazardous chemicals. Sonja Haider, Head of Sustainable Finance: “Awareness is growing, but the pace needs to increase.”
Key player
“At investment firms, you’ll find the brightest minds and the most money. That makes them a key player in our fight against hazardous chemicals. ChemSec works hard to keep investors well-informed, for example through webinars on current policy developments. We also help them to analyze the information from companies regarding their chemical management practices.”
“Currently, the hottest topic is the PFAS pollution crisis. ‘PFAS have incredible essential properties!’ some chemical companies will emphasize to investors. Well, so did asbestos. There was no more effective material for extinguishing fires. But, once we realized how harmful it was, alternatives were found. And the PFAS crisis is much larger and more persistent than asbestos ever was. This makes innovation and sustainable alternatives even more crucial.”
A hopeful development
“It is encouraging to see growing awareness of hazardous chemicals. In 2024, the Investor Initiative on hazardous chemicals that we supported grew to the astonishing figure of 70+ investment companies. Only a few years ago, it took significant effort to gain the support of just two or three firms.”
“Also, the chemical company DuPont finally decided to participate again in ChemScore—our sustainability ranking of the largest chemical companies. Participation is voluntary, and DuPont had kept its US data hidden for two years. The fact that they finally yielded to investor pressure and published some of their data this year was something we celebrated.”
Meaningful discussions
“As awareness grows, discussions are emerging in other sectors as well. Insurers are questioning chemical companies — can you insure a company that knowingly harms consumers and the environment? Meanwhile, consumer demand for safer products is increasing. These are positive developments, but the pace really needs to increase. That’s why we keep pushing forward.”