Looks like the plot of Snowpiercer, minus the perpetually moving train part.
On the contrary, companies and individuals should absolutely be responsible for the consequences of their actions.
Culpability for damaging the environment should rest on the person who caused the damage.
This is basic stuff.
When the potential damages of an action far outweigh what it is even conceivably possible that the entity doing the action could ever hope to repay, the standards for preventing that action change.
The company is still at fault and should still be legally punished within the local legal system. The difference is that the government has now got to accept liability on the international stage, since the company is incorporated in that country. The liability has "expanded", not changed from one entity to another.