The global consumer industry experienced a 57% decline in the number of environmental sustainability-related patent applications in Q2 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 54% in Q2 2023, according to GlobalData’s Patent Analytics. Environmental Sustainability is a priority in most of the industries today including Consumer. GlobalData’s ESG (Environmental, Social, and Governance) Top Trends by Sector – Thematic Research report assesses the impact of ESG by identifying key trends, company filings, and hiring pattern across 16 key sectors. Buy the report here.
Notably, the number of environmental sustainability-related patent applications in the consumer industry was 835 in Q2 2023, versus 1,923 in the prior quarter.
The top five companies accounted for 54% of patenting activity
Analysis of patenting activity by companies shows that Gree Electric Appliances Inc of Zhuhai filed the most environmental sustainability patents within the consumer industry in Q2 2023. The company filed 168 environmental sustainability-related patents in the quarter, compared with 422 in the previous quarter. It was followed by Haier Group with 162 environmental sustainability patent filings, Intel (42 filings), and Signify (40 filings) in Q2 2023.
Patenting activity was driven by China with a 62% share of total patent filings
The largest share of environmental sustainability related patent filings in the consumer industry in Q2 2023 was in China with 62%, followed by the US (32%) and Japan (7%). The share represented by China was 7% higher than the 56% share it accounted for in Q1 2023.
To further understand GlobalData's analysis on ESG (Environmental, Social, and Governance) Top Trends by Sector - Thematic Research buy the report here.