The peculiarities of the dynamics of the volume and structure of emissions from manufacturing enterprises in Moscow in 1990–2023 have been revealed. It is noted that the economic process of deindustrialization in the 1990s–2000s has been replaced in recent years by a small reverse process of reindustrialization, with an increase in the diversity of sectoral structure, and a change in the role and internal structure of machine building and chemical industry. The decrease of manufacturing industry output was noticed, while pollution from large enterprises producing products necessary for the city was preserved; at the same time, the rates of decrease in specific pollution for these enterprises have slowed down in recent years. It is concluded that during periods of crisis and recession there is a faster change in industrial structure compared to the change in pollution structure, and that during the recovery phase the pollution structure changes faster, largely due to the fact that industries are expanded initially without adequate expansion of treatment systems.