No, that would be a terrible system for us pedestrians, who already bear the brunt of air pollution in the cities. Just imagine how terrible it would be with all those cars constantly stopping, idling and starting.
That's what they're doing in the cities now anyhow. It's just a blocks long line of cars everywhere, idling, inching forward, waiting for the car in front of them to move. It's not the traffic lights that are creating all the stopping/idling, it's the traffic jams, due to too many cars.