The answer to this open question is as follows.
I believe that it is the responsibility of the government to utilize regulation to address these adverse externalities, but company owners must also maintain ethical standards and high morals, recognizing their role in air and water pollution. Thus, they should take the initiative to devise effective solutions or strategies to reduce this pollution, as they are ultimately harming our air and water.
If people are aware of the harmful impacts of their policies, then private sector and non-governmental initiatives could be equally effective.
What I'm suggesting is that although the federal and state governments can institute robust environmental legislation, such laws must be enforced. The problem lies in the fact that if company leaders operated with professionalism and ethics, they would have proactively executed the necessary measures to curtail pollution right from the start, rather than waiting for legal compulsion to adhere to the law.
Being compelled to act due to potential negative repercussions is one scenario, while acting out of principles, values, and morals that encourage proper conduct is entirely different.
