(Wednesday 21st January) Today, new research published by responsible investment NGO ShareAction reveals that corporate air pollution remains a critical blind spot for investors, threatening public health and portfolio resilience. Although air pollution is one of the most damaging health risks in investment portfolios and a driver of large-scale health and environmental harm, it is an issue widely overlooked by asset owners and asset managers.
A Breath of Fresh Air highlights the vital role of investors in accelerating progress towards cleaner air. As air pollution is a real, systemic risk connected to climate change, nature loss and human rights, addressing it is fundamental to protecting people and planet and building lasting value across portfolios. Failure to monitor and manage air pollution can leave investments open to greater risks and undermine transparency and confidence in responsible stewardship.
Delayed action also carries higher risk for investors because air pollution regulation is tightening faster than investment frameworks are adapting, creating uncertainty and exposing investors to the risk of sudden compliance costs. Meanwhile, litigation and operational disruption linked to air pollution are escalating, particularly in sectors reliant on urban road transport.
Justine Holmes, Clean Air Lead at ShareAction, said: “Air pollution is the leading environmental cause of death, responsible for cutting millions of lives short each year. Yet most companies and their investors have turned a blind eye, not doing nearly enough to improve air quality as communities around the world suffer the consequences.
“At ShareAction, we believe a healthier population drives a healthier economy. Investors need to open their eyes to the risks air pollution presents and acknowledge that protecting people against harmful pollutants goes hand in hand with protecting the long-term value of their investments.”
According to the World Bank, the global economic cost of air pollution is estimated at US$6 trillion per year, driven by healthcare costs, lost productivity and reduced participation in the workforce.
ShareAction is urging investors to treat air pollution as a core part of investment stewardship. Key recommendations include integrating air pollution into investment analysis and decision-making, strengthening stewardship and engagement with high-emitting sectors, supporting innovation and adoption of cleaner technologies, and advancing transparency, disclosure and data quality.
Through the Clean Air Initiative, ShareAction has been working to embed air pollution into responsible investment. This work sits at the heart of ShareAction’s Health Dividend approach – demonstrating how protecting health also strengthens climate resilience, nature protection and long-term value.
In June 2025, a group of investors representing US$865 billion in assets under management issued a public statement urging high-emitting companies to act, calling air pollution a “silent yet deadly” public health and financial risk.
