You could, but that's not recommended.
Alternatively, you could just read them (to make sure they are not important updates about security) and then delete them.
In the near future there will be a few extra options available via the usercp - one will allow you to opt out of regular update e-mails (unless staff send them), another will allow you to opt into a weekly e-mail that will list new releases for the last week as well as any mods you have installed that have been updated in the last week.
There will also be a setting to opt out of a reminder PM that will be sent a few days after you download a new modification (i.e. a mod you have downloaded but never marked as installed). The PM will basically be a once only reminder to click install if you are using the mod.