‍The trend – Over the past few weeks, we have spotted a seismic shift in how governments treat per- and polyfluoroalkyl substances (PFAS). These so called "forever chemicals"  are manmade, often used to make items water resistant and can be found in anything from waterproof clothing, to make-up and non-stick frying pans. They have been linked to multiple health risks, leading the EU, UK and US to enforce PFAS regulation, creating a patchwork of risk and opportunity for investors.

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What are the specifics? The regulatory landscape has fractured between the UK, EU and US. On 3 February, the UK government launched its first PFAS Plan, proposing statutory limits for PFAS in drinking water. However, this enforcement lags behind EU standards, which will extend a PFAS ban to packaging from August. France has gone one step further, officially enforcing its ban on PFAS in cosmetics and apparel from the start of the year.

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US updates – The  US Environmental Protection Agency moved on 6 February  to recalibrate reporting rules to prevent PFAS contamination in drinking water. Individual states such as Colorado, Maine, and Vermont are ploughing ahead, enacting total bans on PFAS in consumer products such as cookware and apparel as of 1 January.

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Economic cost – A landmark European Commission report, released  in late January, warns that if PFAS production continues unchecked, the cost of pollution and health care in the EU could reach €440bn ($519bn) by 2050. This financial framing mimics the "water bankruptcy" alert from a recent UN report, signalling that our water systems have gone past being able to return to historic baselines of non-toxicity.

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Health toll – The biological cost of these chemicals is coming into sharper focus through a "generational exposure" lens. According to research synthesised by the US National Resource Defence Council, PFAS are now linked to a terrifyingly wide range of risks – kidney and testicular cancer, hormone disruption, liver and thyroid problems, reproductive harm and abnormal foetal development. Concerningly, a US Centers for Disease Control and Prevention study found PFAS in the bloodstreams of 99% of US citizens surveyed, as well as being found in breast milk and umbilical cord blood. In the UK, a BBC reporter had 7.8 ng per ml above safe levels of PFAS in her bloodstream. This confirms that these chemicals are not just "forever" in the environment – they are effectively permanent in human biology.

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Corporate response – The private sector is increasingly recognising PFAS as a core business risk, asking whether PFAS are the “next asbestos”. As chemical manufacturer 3M confirmed total exit from PFAS manufacturing at the end of 2025, stakeholders are turning up the heat. A coalition of investors representing over $18tn in assets is now pressuring major chemical and apparel companies to move toward PFAS-free alternatives to avoid the burgeoning litigation.

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Tech race  – Positive stories are emerging from the lab, where scientists are finally moving from simply "filtering" PFAS to actually destroying the carbon-fluorine bond. Researchers at Rice University published a study showcasing a new material that removes PFAS from water 100 times faster than current carbon filters. Simultaneously, the University of Chicago demonstrated a method using lithium-metal battery chemistry to "snap" the indestructible bonds of PFAS, turning toxic waste into fluoride salts. These innovations suggest that technology may be available to slowly reverse impacts of forever chemicals. ‍

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Reality check – The shift from "forever" to "accountable" is a call to end the chemical denial. Whether through the UK’s new statutory limits or the breakthrough lithium-destruction tech at University of Chicago, the world is beginning to manage PFAS not as a convenient industrial shortcut, but as a toxic liability that affects us all.