Insurance patents for clean energy, carbon capture surge

Patents for clean energy insurance rose from 1,537 in 2014 to 3,004 in 2023.

The insurance industry is seeing a rise in patents related to clean energy insurance and carbon capture, with patents already reaching 2,519 in the first half of the year. This signals a shift towards sustainable energy projects, revealed GlobalData.

Data showed promising results with patents for clean energy insurance rising from 1,537 in 2014 to 3,004 in 2023, and carbon capture patents jumping from 2,009 to 5,143 over the same period.

“The surge in patents for clean energy insurance and carbon capture within the insurance industry reflects a strategic focus on supporting sustainable energy initiatives. As countries aim to achieve their net-zero commitments, insurers are developing new products and services to cater to this evolving landscape,” Guillaume Anns, Insurance Analyst at GlobalData, said in a media release.

Additionally, insurers are increasingly adopting sustainable practices, such as limiting coverage for carbon-intensive sectors like coal mining.

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