Smog in Delhi – Artifex.News

‘Smog’ in the boardroom: India Inc. confronts the cost of air pollution

admin — Thu, 05 Mar 2026 08:04:00 +0000

Construction bans in Delhi-NCR due to air pollution have lead to project delays and rising costs. File.
| Photo Credit: R.V. Moorthy

Air pollution has moved from the margins of environmental reporting to the center of corporate boardroom conversations in India — and increasingly, into earnings calls.

In 2025, the phrase “air pollution” was mentioned 988 times in earnings calls of companies in the BSE AllCap index, according to a Bloomberg analysis. The spike reflects a sharp rise in management commentary on smog-related disruptions, regulatory curbs and shifting consumer behavior. What was once treated as a seasonal civic concern is now being framed as a recurring business risk.

From weather update to financial headwind

For consumer-facing companies, pollution is directly affecting sales. Retailers have cited weak store footfall during severe smog episodes, as customers avoid stepping out. In the December quarter, Shoppers Stop reported a 69% decline in net profit, partly attributing it to elevated pollution levels in northern India.

Quick commerce operators are also flagging operational slowdowns. Eternal Ltd., the holding company of Blinkit, told analysts that construction restrictions during high-pollution periods delayed their store expansion plans.

Companies such as DLF and Omaxe have highlighted the impact of construction bans triggered under Delhi-NCR’s pollution control framework, leading to project delays and rising costs. Some developers estimate losing one to one-and-a-half months of construction time annually due to pollution-related curbs.

Cement and infrastructure firms have similarly warned that smog-related shutdowns are affecting dispatches and project timelines.

The broader economic implications are significant. Projections from the Organisation for Economic Co-operation and Development (OECD) estimate that global healthcare costs related to air pollution will rise from $21 billion in 2015 to $176 billion by 2060.

Regulatory and ESG pressure

“Companies do report air pollution as a material ESG risk, but it depends on the industry, geography, regulatory exposure and results of their materiality assessment,” said Prarthana Borah, Fellow at the Council on Energy, Environment and Water (CEEW).

Under India’s Business Responsibility and Sustainability Reporting (BRSR) framework, air pollution disclosures are required if identified as a material risk. The Taskforce on Nature-related Financial Disclosures (TNFD) similarly expects disclosures when air pollution materially impacts nature and creates financial risk.

“Even when companies disclose on air pollution, there is a tendency to aggregate multiple pollutants together and avoid disclosing on worst-performing facilities,” Ms. Borah said. “Supply chains are often omitted. In the absence of a standardised methodology, companies rely on intensity metrics without absolute values and avoid forward-looking cost exposure.”

Transparency tends to be stronger where disclosures are mandatory, enforcement is robust and investors actively assess risk. In the case of air pollution, reporting is often voluntary, bundled under broader environmental risk categories and subject to limited external assurance.

According to NSE Sustainability Ratings and Analytics, IT companies such as Tata Consultancy Services (TCS) and Infosys score highly due to strong governance frameworks and clear social disclosures. Most banks score between 70 and 80, reflecting well-developed policies.

Pollution-intensive industries tend to fare worse. Reliance Industries, for instance, has a sustainability score of 61, largely weighed down by environmental concerns.

A structural shift

India’s air quality crisis is no longer viewed as a temporary, seasonal disruption. With recurring smog episodes, regulatory interventions and measurable earnings impacts, companies are increasingly recognising it as a structural operating risk.

The surge in earnings-call mentions signals a broader shift: air pollution is moving from the margins of sustainability reports to the mainstream of financial analysis and investors are paying close attention.

Published – March 05, 2026 11:08 am IST

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Pollution Chokes Delhi, New Restrictions In Place, Schools Go Online

admin — Fri, 15 Nov 2024 02:12:05 +0000

With AQI 498, Delhi is the worlds second most polluted city, after Pakistans Lahore.

New Delhi:

Delhi continues to be wrapped in a blanket of smog, with the air quality in the “severe” category for the third consecutive day. With AQI 498, Delhi is the world’s second most polluted city, after Pakistan’s Lahore with AQI 770 recorded at 7 am. IQAir, a Swiss company, ranks major cities based on Particulate Matter 2.5 (PM2.5) data.

The top five polluted areas in Delhi this morning are Jahangirpuri (with AQI 458), Bawana (455), Wazirpur (455), Rohini (452), and Punjabi Bagh (443), according to Central Pollution Control Board’s Sameer App.

Delhi’s Palam and Safdurjung reported 500m and 400m visibilities respectively.

Low visibility due to smog has affected flight and rail operations across India. Several IndiGo flights to and from Amritsar are affected. Many SpiceJet flights to and from Delhi and Darbanga are running late.

Various trains are running late by over two hours. More than 25 trains arriving at New Delhi railway station are also delayed.

With no respite in sight, all primary schools in Delhi have been moved online, Chief Minister Atishi announced in a post on X. She said the online classes for primary school children will continue “until further directions”.

Due to rising pollution levels, all primary schools in Delhi will be shifting to online classes, until further directions.

— Atishi (@AtishiAAP) November 14, 2024

On Thursday, the Commission for Air Quality Management (CAQM) enforced stage 3 of the Graded Action Response Plan (GRAP). Under GRAP 3, the following restrictions and measures have been imposed:

A ban on non-essential construction and demolition work.
A ban on the operation of BS-III petrol and BS-IV diesel four-wheelers in Delhi and parts of the NCR like Gurugram, Faridabad, Ghaziabad, and Noida.
Restricted use of diesel generator sets for emergency purposes only. Industrial operations not running on fuels in the standard list of approved ones are banned.
Intensified mechanized road sweeping and water sprinkling to suppress dust.
Increasing public transport services and promoting off-peak travel through differential rates.
Major welding and gas-cutting operations. Minor welding activities for MEP (Mechanical, Electrical and Plumbing) works are to be, however, permitted.
Painting, polishing and varnishing works etc. Cement, Plaster / other coatings, except for minor indoor repairs/ maintenance. Cutting/grinding and fixing of tiles, stones and other flooring materials, except for minor indoor repairs/ maintenance. Waterproofing work (Excluding Chemical waterproofing).
Movement of vehicles carrying construction materials on unpaved roads. Long-term exposure to “severe” AQI can affect even healthy people and seriously impact those with existing diseases. Doctors have cautioned people to stay indoors as much as possible as air pollution affects physical and mental well-being and can cause health problems ranging from respiratory issues to cardiovascular.

READ | GRAP 3 In Delhi Explained: What Is Banned, What Is Allowed

“We have been witnessing several gastrointestinal and metabolic conditions due to air pollution,” Dr. Sukrit Singh Sethi, Consultant – Gastroenterology, Hepatology & Liver Transplantation, Narayana Hospital, Gurugram told news agency IANS.

“The harmful particles and gases in polluted air, when inhaled, can lead to systemic inflammation and oxidative stress, which disturb gut health and impact the microbiome — the collection of trillions of bacteria in our intestines that play a critical role in digestion, immunity, and overall health,” Dr Sethi said.

The health experts recommend limiting outdoor activities during peak pollution times, typically in the early morning and evening; and using masks, especially in highly polluted environments.

READ | Construction Halted, Buses Restricted: Stricter Anti-Pollution Measures In Delhi

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