Patents
Patent applications related to ESG increased by 84% per year on average in the retail banking industry since 2020
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The global retail banking industry experienced an 84% increase in annual average growth rate (AAGR) in the number of ESG-related patent applications between 2020 and 2022. The total number of ESG-related grants increased by an AAGR of 17% during the same period, according to GlobalData's patent analytics database.
Notably, the number of ESG-related patent applications in the retail banking industry was 223 since 2020, while 67 applications were granted.
The top five companies by filings accounted for 28% of patent applications
Analysis of patent applications by company shows that Ant Group, Bank of America, China Investment, General Electric, and Stora Enso filed the most ESG patents within the retail banking industry since 2020. The companies filed five ESG-related patents each since 2020.
The top five companies by grants accounted for 49% of successful patent grants
Analysis of patent grants by companies shows that Nio was granted six patents related to ESG within the retail banking industry since 2020. It was followed by Morgan Stanley (four grants), Ant Group (three grants), Advanced Technology & Research (two grants) and Capital One Financial (two grants).
Patent activity was driven by the US with a 50% share of total patent publications
The largest share of ESG-related patent publications in the retail banking industry since 2020 was held by the US with 50%, followed by China (33%) and South Korea (5%).
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patents Analytics tracks patent filings and grants from official patent offices around the world. Proprietary analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
