This argument of shareholders wanting to be ecologically conscious is such a privileged idea. The majority of money in the stock market doesn't come from the rich who can afford to be flippant with their stock returns. It comes from people relying on consistent equity appreciation so they can afford to retire.
We already know how to deal with negative externalities such as pollution. Evaluate how much it costs society and tax it accordingly.
I don't understand this, can it not be the case that the companies can 'afford' to keep polluting, even if paying the tax? Especially if pollution "cost on society" is relatively constant or not increasing according to profit. How is this cost on society determined, and what if I think that the cost is too high, even for taxation to deal with it?
This seems like a band aid on one of the problems inherent with the profit motive.