Yes, R134a is very definitely harmful to the environment. It doesn't attack the ozone layer, like the older refrigerants that contained chlorine, but it's still a powerful greenhouse gas that contributes to global warming.
According to the New York Times (12/2/2007): "In wide use for little more than a decade, the shortcoming of R134a is revealed by a standard measurement called the Global Warming Potential, established to compare other gases with the most plentiful greenhouse gas, carbon dioxide. The warming potential of R134a refrigerant is 1,410, meaning that the release of one gram of R134a would have the same global warming effect as releasing 1,410 grams of carbon dioxide. The warming number of Freon-12, the common auto refrigerant used into the 1990s, is 8,500."
So R134a isn't as bad as Freon-12, but it's still 1,410 times worse than carbon dioxide. That's why it's illegal to release it.
Refrigerant recovery systems are too expensive for the home hobbyist, but you can take your car to anyplace that does AC repair work and they can take the R134a out of your system. If you get a high quote for the recovery work, shop around. They shouldn't charge you very much (if anything) because it only takes a few minutes and they get to keep the R134a that they recover.
This video showing a Subaru AC system repair may be helpful: