Counterpoint: This may not actually cause companies to change their behaviour, it might simply create market barriers, which will be beneficial for companies with the necessary capital - i.e., it will just mean you have to be rich enough to be allowed to pollute the environment.

> but if you own something, it's yours to do with as you wish.

This is not true. We put restrictions on all kinds of actions if they have a high likelihood of causing damage. This is why you're allowed to own fertilizer but are still not allowed to build a bomb with it. This is also why you need a driver's license to operate a vehicle.