3M has been facing a raft of litigation that has prompted the move Generally speaking, toxic substances are only "cheap" due to externalizing many of the costs involved, like increased healthcare costs and lost productivity. If you do a thorough analysis of the costs of using such chemicals, they aren't cheap at all. Maybe someday humans will get that.
We do get it. Sometimes the costs aren't known in advance, and you can't include every potential future issue in the cost/benefit calculus.
Isn't that literally what the article is pointing at? Shareholders put pressure on the company to stop this, and they are. Sounds like a success story.