It’s about externalities. The private companies aren’t paying for the damage they are causing. It’s ultimately borne by the public. Very similar to a factory

It’s about externalities. The private companies aren’t paying for the damage they are causing. It’s ultimately borne by the public. Very similar to a factory that poisons a river if there’s no disincentive not to. Better would be if we could factor in the cost to the environment into their revenue. This would better align incentives.