Carrier Global has agreed to a $730 million settlement to resolve lawsuits alleging that its subsidiary, Kidde-Fenwal, manufactured firefighting foam products containing toxic "forever chemicals." The chemicals, known as perfluoroalkyl and polyfluoroalkyl substances (PFAS), are linked to contamination of drinking water and soil near airports and military bases. The settlement will help fund a Chapter 11 plan, compensating local governments and individuals affected by PFAS contamination.

Kidde-Fenwal, which filed for bankruptcy in May 2023 due to over 4,400 PFAS lawsuits, will contribute $540 million to resolve claims, with an additional $190 million allocated for PFAS plaintiffs. The funding will include $615 million in cash paid over five years, supplemented by $115 million from asset sales. This agreement follows other significant PFAS-related settlements, including a $10.3 billion settlement with 3M.