Green chemistry[1] designs systems and reactions that don't produce waste. This can be as simple as reusing water or as complex as alternative reactions (as is the case for making nylon without nitric acid). In some cases green chemistry can even save money. You can also collect and use waste for other purposes or put it into long term storage eg using it as a filler in concrete. There is practically no such thing as useless waste, only coordination problems.
The only "problem" here is stopping people/companies from dumping into the ground and water.
Of course, taking a purely economic view is fairly cold and uncaring. The other issues should also be at play. But I don't think they offer anything more generous to these companies
Also, enforcing economic solutions does not necessarily prevent adding other non economic solutions. For an economic activity, such as production of these chemicals, economic solutions can go a really really long way to bettering behavior.
Unfortunately the other option is to move the plant to the third world and kill poor people who can't afford to fight back.
Alternatively, put them next to the houses of the owners and management and the schools of their children.
Of course it's competitive.
I'm saying, pull requests are welcome.
Regulate. A dirty word on HN, surely. Regulate the production of and, possibly, the import of neoprene, etc. Force industries to innovate - I know that's not a dirty word here - in order to sell these goods to Americans. Maybe then America becomes the sole producer of environmentally-friendly wet-suits to the whole of the word.
I think this is the only solution since your proposed solution of just "put the plants somewhere else" is, as you've pointed out, untenable.
I doubt the Argentinians will go along with that.