The global mining industry experienced a 49% 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 41% in Q2 2023, according to GlobalData’s Patent Analytics. Environmental Sustainability is a priority in most of the industries today including Mining. 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 mining industry was 190 in Q2 2023, versus 371 in the prior quarter.
The top five companies accounted for 49% of patenting activity
Analysis of patenting activity by companies shows that Magang (Group) Holding Company filed the most environmental sustainability patents within the mining industry in Q2 2023. The company filed 22 environmental sustainability-related patents in the quarter, compared with 13 in the previous quarter. It was followed by China Baowu Steel Group with 22 environmental sustainability patent filings, Ansteel Group (21 filings), and JFE (18 filings) in Q2 2023.
Patenting activity was driven by China with a 74% share of total patent filings
The largest share of environmental sustainability related patent filings in the mining industry in Q2 2023 was in China with 74%, followed by the US (21%) and Japan (5%). The share represented by China was 34% higher than the 40% 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.