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Corteva agrees to pay $66M of $455M North Carolina PFAS settlement
CTVACorteva, Inc.
Corteva, Inc. and its subsidiary EIDP, Inc., along with DuPont de Nemours, Inc. and The Chemours Company, reached a settlement with the State of North Carolina regarding statewide PFAS claims related to the Fayetteville Works site. Under the agreement, the companies will collectively pay $455 million over 15 years, with Corteva's share amounting to approximately $66 million. Additionally, Corteva and DuPont must guarantee Chemours' portion of the payments and establish a reserve fund capped at $135 million to ensure compliance with the NC Consent Order. The settlement payments will also count toward a $4 billion aggregate qualified spend cap established in a 2021 Memorandum of Understanding. Corteva operates in the agriculture industry, providing seeds, traits, and crop protection products.