Environmental, social and governance innovation among power companies has fallen over the past year

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Environmental, social and governance (ESG) research and innovation in the operations and technology sector of the energy industry has declined over the past year.

The latest figures show that the number of ESG patent applications in the industry rose to 185 in the three months to November, up from 523 in the same period last year.

ESG-related granted patent figures followed a similar trend to filings – rising from 442 in the three months ending November last year to 196 this year.

The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key subject areas and linked to key companies in various industries.

ESG is one of the key areas tracked by GlobalData. It has been identified as a key disruptive force that companies will face in the years to come, and it is one of the areas where companies currently investing resources should reap rewards.

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The numbers also provide insight into the biggest innovators in the industry.

3M Co was the leading ESG innovator in the energy industry’s operations and technology sector during the last quarter. The US-headquartered company filed 82 ESG-related patents in the three months to November. That was down from 160 during the same period last year.

It was followed by the Italian company Eni SpA with 44 ESG patent applications, the German company Siemens AG (23 applications) and the American company Honeywell International Inc (18 applications).

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