Here's an alternative approach: https://en.wikipedia.org/wiki/Free-market_environmentalism
> Free-market environmentalists therefore argue that the best way to protect the environment is to clarify and protect property rights. This allows parties to negotiate improvements in environmental quality.
I would not hold my breath waiting for ExxonMobil, the Saudi Royal family, or any other powerful entity to give up property rights. This outcome is worse for them than turning the planet into slag.
> Owners face a strong incentive to take care of and protect their property. They must decide how much to use today and how much to use tomorrow. Everybody is trying to grow value. Corporate value and share price is based on their anticipated future profits. Owners with the possibility of transferring their property, either to an heir or through sale want their property to grow in value. Property rights encourage conservation and defend resources against depletion, since there is a strong incentive to maximize the value of the resource for the future.
Just like a CEO would never risk the long term sustainability of the company for fat short term bonus. /s
If humans were rational and were maximizing for future value we wouldn't be in this position.