One of the ‘world’s most ethical companies’ honoured again.

 

3M has been named as one of the world’s most ethical companies for the tenth year in a row.

 

The Ethisphere Institute has recognised 3M for “ethics and integrity in business conduct and compliance”. 

 

3M, the makers of Post-It notes and Scotch tape, is one of only nine industrial companies worldwide to be honoured this year.

 

The accolade follows 3M’s recent announcement that it will stop making controversial per and polyfluoroalkyl substances, also called PFAS, by the end of 2025.

 

PFAS chemicals, or ‘forever chemicals’, are found in household items such as Teflon pan coating and adhesives used in various types of tapes and sticky notes.

 

Scientific studies now point to PFAS being dangerous to human health and animal life at concentrations thousands of times lower than previously estimated.

 

In a statement, 3M said its decision to cease manufacturing of PFAS chemicals is “based on careful consideration and a thorough evaluation of the evolving external landscape”. 

 

3M expects to take a financial hit of US$1.3 to US$2.3 billion over the next few years because of the PFAS discontinuation.