Recent data reveals a significant increase in insurance patents related to clean energy and carbon capture, underscoring the industry’s commitment to supporting the transition to sustainable energy solutions.
According to the latest figures from GlobalData, the number of patents for clean energy insurance surged from 1,537 in 2014 to 3,004 in 2023. Similarly, patents related to carbon capture within the insurance sector jumped from 2,009 in 2014 to 5,143 in 2023.
Guillaume Anns, an insurance analyst at GlobalData, commented on the trend, stating, “The rise in patents for clean energy insurance and carbon capture illustrates a strategic shift towards supporting sustainable energy initiatives. As nations strive to meet their net-zero targets, insurers are innovating with new products and services tailored to this evolving sector.”
One notable development highlighted by GlobalData is the collaboration between Zurich Insurance Group and Aon, which focuses on hydrogen projects.
Anns elaborated, “This partnership provides comprehensive coverage for both blue and green hydrogen projects, as well as carbon capture utilization and storage (CCUS) technologies. This facility addresses the intricate risks associated with these projects, offering developers and investors the confidence to advance their initiatives.”
The data reflects a growing trend within the insurance industry to align with global sustainability goals, reinforcing the sector’s role in the transition to a low-carbon economy.
