Increase in insurance patents for clean energy, carbon capture reflects net-zero support

First half data for both nearly doubled.

Latest figures from GlobalData showed that the insurance industry is recording a rise in patents related to clean energy and carbon capture, which reflects the support for the transition towards sustainable energy initiatives. 

Analysis by GlobalData revealed that patents for clean energy insurance jumped from 1,537 in 2014 to 3,004 in 2023. Meanwhile, patents for carbon capture within the insurance sector increased from 2,009 in 2014 to 5,143 in 2023. 

“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,” said Guillaume Anns, insurance analyst at GlobalData.

The company said one of the one of notable collaborations was between Zurich Insurance Group and Aon for hydrogen projects.

“By offering comprehensive coverage for blue and green hydrogen projects, as well as carbon capture utilisation and storage (CCUS) technologies, the facility addresses the complex risks associated with these initiatives, providing developers and investors with the confidence needed to pursue such ventures,” Anns said.