Two articles...

to illustrate a point:
First, this article (in German, sorry) discusses how McDonald's is planning to start using their used vegetable oil to make biofuel.
Next, this one is about how one company is starting to recycle plastic.... by turning it back into fossil fuels.
This is very interesting stuff, and demonstrates the ability of firms to take technology and do something with it that no government could ever do -- something innovative and practical.  Vaclav Klaus, (the current President of the Czech Republic and a pariah in Europe for his relentless insistence on making sure that individual freedom is at the heart of any EU "reform") has noted that scepticism about global warming (or its ecumenical brother "climate change") is usually linked to what people think about the role and purpose of government.  Those that are most convinced of climate change are also those most inclined to support draconian government measures for the environment.... and draconian measures for health care, draconian measures to publicly fund various social programs, restrictions on school choice, restrictions on certain political speech, restrictions on businesses, etc.
At the same time, one can see with these two articles that the market is already correcting the environment.  It is simply a matter of how one perceives the world: should a handful of people (usually in a city far away) decide how you should live your life, or should you be free to benefit from your own good ideas?