That great innovation is at the root of the market's disregard for negative externalities such as climate change. I'm not in support of jailing shareholders, but say a tax on the dividends of shareholders who front the capital for companies that impose a burden on civilization doesn't sound outrageous to me. Especially since fining the company directly doesn't necessarily discourage bad behavior at the tiers of power that have the ability to take a different path.

Maybe a better idea would be to force the company to emit new shares by some percantage of their total number of shares and transfer those to the state. That way shareholders lose a bit of value by dilution. And after enough fines the state will eventually reach a controlling majority ownership and can directly stop the company from further transgressions.

Not that absurd. People would start doing way more due diligences to invest. They would put pressure on the company to not do something stupid.

You invest in bad actors and want to make money with it? Well you should pay the consequences for that.