No. Capitalism is the system of individual rights. It is the greatest protector of man’s environment’ (as opposed to the protection of the environment at the expense of man’s well-being).
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Under capitalism all property is privately owned. If you pollute your own property that is your business (but in doing so you reduce the property value which would not be in your self-interest). However, the minute your pollution spreads to another person’s property, and causes objectively provable damage, the owners of that property can sue you as a matter of right.
The right to property is not the privilege to damage or pollute the property of others. Witness that the privately owned locks and streams of Scotland are far cleaner than the government owned cesspools of socialist India.
As for the disposing of the pollution of factories, this is a technological solution — and capitalism, as the system of technological progress, is the only system that can provide such a solution.