WILMINGTON, DE — Chemours (NYSE: CC), DuPont (NYSE: DD), and Corteva (NYSE: CTVA) have agreed to an $875 million settlement with the State of New Jersey, resolving longstanding environmental and legal disputes related to legacy PFAS contamination and operations at several current and former industrial sites.
The agreement, formalized in a proposed Judicial Consent Order (JCO), encompasses environmental claims linked to four sites—Chambers Works, Parlin, Pompton Lakes, and Repauno—as well as broader statewide PFAS contamination allegations, including from aqueous film forming foam (AFFF). The settlement would eliminate ongoing litigation and regulatory actions against the companies while outlining a structured remediation and financial security plan.
Settlement payments will be made over 25 years, beginning within 30 days of the JCO’s official entry, no earlier than January 1, 2026. The present value of the total payments is approximately $500 million. Under a 2021 cost-sharing agreement, Chemours will shoulder 50% of the burden, or about $250 million; DuPont will cover 35.5%, or roughly $177 million; and Corteva will be responsible for 14.5%, around $72 million.
The $875 million total includes $16.5 million related to alleged PFAS contamination not tied to the companies’ sites, with $4.125 million specifically addressing AFFF-related claims.
The settlement also calls for continued remediation at the affected facilities, consistent with existing legal requirements. To ensure long-term environmental compliance, the agreement establishes a Remediation Funding Source (RFS) backed by a surety bond or similar financial instrument. Additionally, DuPont and Corteva will create a Reserve Fund, capped at $475 million, to act as secondary financial assurance. Neither the RFS nor the Reserve Fund will require immediate new cash contributions but will involve maintenance costs tied to securing financial instruments.
As part of the arrangement, DuPont and Corteva have agreed to purchase Chemours’ rights to certain insurance proceeds tied to PFAS liabilities for $150 million. Once DuPont and Corteva recover the initial investment and a fee, Chemours will be entitled to receive 50% of any further insurance recoveries.
The proposed JCO is subject to a public comment period and final court approval, in accordance with New Jersey law.
This settlement represents one of the most comprehensive state-level resolutions of PFAS-related claims to date, providing financial clarity for the companies and setting a precedent for how legacy environmental liabilities may be addressed moving forward.
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