The global retail industry experienced a 62% 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 43% in Q2 2023, according to GlobalData’s Patent Analytics. Environmental Sustainability is a priority in most of the industries today including Retail. 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 retail industry was 70 in Q2 2023, versus 186 in the prior quarter.
The top five companies accounted for 46% of patenting activity
Analysis of patenting activity by companies shows that Strong Force Iot Portfolio 2016 filed the most environmental sustainability patents within the retail industry in Q2 2023. The company filed 8 environmental sustainability-related patents in the quarter, compared with 4 in the previous quarter. It was followed by NIKE with 8 environmental sustainability patent filings, Alibaba Group (8 filings), and Geotab (5 filings) in Q2 2023.
Patenting activity was driven by the US with a 63% share of total patent filings
The largest share of environmental sustainability related patent filings in the retail industry in Q2 2023 was in the US with 63%, followed by China (27%) and Japan (4%). The share represented by the US was 16% higher than the 47% 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.