Well, if you're charged roughly X per kwH for energy, and Y for each # of waste your company produces, this encourages cutting those costs beyond the costs of those parts alone. This would have a more direct effect than simple income tax incentives and be more direct.

There's still an incentive, it's just it's not tethered to income which has MANY ways to work around in other ways with the current structure and the companies wind up not reducing pollution and waste.