Despite often being lumped with China in being used as a scapegoat by the US when explaining why it doesn't join targeted emissions reduction schemes, India has been taking some impressive steps toward green technology development. Perhaps recognizing, as China does, that green technological advances can lead to economic efficiencies, the nation has just announced a scheme whereby proceeds from taxed coal will be used to create a clean energy development fund.
With the move being applauded by both securities markets and green analysts alike, this is just the type of idea that should appeal to the pro-growth crowd that is sometimes skeptical of environmentalists. This is because the fund should allow for green development and its resulting future economic benefits without anything more than a marginal hit to the current economy. It is also an example of how the US is falling behind when it comes to creative green development solutions as it has not embraced the economic benefits of doing so. If the US could only follow China and India in coming up with creative solutions to problems the same way it follows them in refusing to join international agreements, it could be a stimulant rather than a hamper to global green development.
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