Let me rephrase that. It could be used as a justification of such a law, yes. My point is that it doesn't have to be, and we're better off not doing that because that would have undesirable legal side effects down the line.
"General well-being of the people" is a very vague notion that can be used as a justification for too many things, most of which you probably wouldn't like at all. Of specific note is that it doesn't require any outside actor - they could just as well limit your own activities that are potentially harmful to yourself, even statistically speaking (i.e. not harmful to you personally, but universally banning them would prevent enough people from exercising them in a harmful way that it would improve "general well-being"
It's far better to go with some more concrete justifications, such as specific measurable harm that is inflicted by the actor to other parties. It's not exactly hard to do with pollutants, either, because the emissions are measurable, and so are their effects. It's still collective harm, since it's pretty hard to quantify the individual damage you get from e.g. AGW (though still possible in some cases, and I'd love to see the polluters pay compensation and damages specifically to people they hurt whenever we can trace it), but then at least it's about harm, not some nebulous "it could be better that way".