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Businesswomen having a meeting in office with wind turbine models on table
Green technology is a fast moving sector, so being able to spot market opportunities before others can give a competitive advantage. Photograph: Westend61/Getty Images
Green technology is a fast moving sector, so being able to spot market opportunities before others can give a competitive advantage. Photograph: Westend61/Getty Images

The green technology patent boom – what’s driving it and how can businesses benefit from it?

On the journey to net zero, companies are seeking to invest in a future that’s not only profitable but sustainable and climate resilient too

From the rollout of huge wind turbines and sleek electric vehicles, to the growing popularity of business practices focused on the environment and net zero, it’s clear that the planet is in the midst of a sustainability driven transition.

Today, the market for green technologies is estimated to be at $61bn (£49bn) and is expected to increase to $417bn (£337bn) by 2030. But this incredible growth would be in jeopardy if companies, inventors, researchers and designers were not confident that their time and money was spent well. Protecting and promoting this creative surge is the (almost) intangible ecosystem of intellectual property (IP).

Companies under the microscope
Governments and investors are keeping an eye on how businesses are navigating this uncharted but vibrant world of green innovation, with product launches and corporate decisions viewed through the prism of ESG (environment, social and governance) standards.

As well as turning a healthy profit and keeping ahead of the competition, companies these days are expected to comply with an ever-expanding set of rules and regulations. Take the European Union’s Corporate Sustainability Reporting Directive, for instance, which came into force earlier this year. At its heart, it requires large businesses – including those that are publicly listed – to report on their environmental and social risks, as well as how their activities impact people and the natural world.

Transparency is clearly a good thing, but it also presents corporations with challenges, forcing them to make tough decisions on everything from the products they manufacture to pricing, workplace culture and investment.

And underpinning it all is IP.

“IP is the beating heart of a thriving business model, whatever the industry,” says Robyn Merry, patent attorney at IP law firm Dennemeyer & Associates. “The various types of rights encompassed within IP – such as patents, trademarks, designs, copyrights, and more – each offer unique contributions that serve as the bedrock for sustainable growth and success.”

Defining what’s “sustainable” can be tricky, given how broad the topic is, but the United Nations’ 17 Sustainable Development Goals (SDGs) are a good place to start. A key part of the UN’s 2030 agenda, these goals cover a huge range of aspirations, including clean and affordable energy, climate action and improved living standards.

Aerial view of electric car parking in charging station with solar panels.
Companies are increasingly bound by regulations such as the EU’s Corporate Sustainability Reporting Directive and the UN’s Sustainable Development Goals for clean energy and climate action. Photograph: Artur Debat/Getty Images

Surveying the landscape
The Dennemeyer Group, headquartered in Luxembourg, offers a suite of services for companies looking to innovate and evolve in line with these goals. The group – with its global network of offices and partners – provides support through the entire IP life cycle, thanks to specialist software and input from dedicated consulting teams. Enter Dennemeyer Octimine, a powerful search tool that uses machine learning to deliver exhaustive patent insights from more than 150m patent filings. “If you’ve got an idea and want to check whether a competitor has patented a similar invention, it can search through international databases at lightning speed,” says Peter Erdödy, global head of Dennemeyer Octimine.

By highlighting similarities or confirming gaps in the market, software such as Octimine can help businesses save time and money. In the fiercely competitive cleantech sector, where companies are constantly bidding to outdo each other with new ideas and innovations, this can be invaluable. “It flags up patents that are closest to the description of your invention, including ones related to clean energy technologies,” says Erdödy.

But when it comes to meeting ESG reporting obligations, it is essential to recognise the sustainable IP you already own. For this, tools such as the Green Patent Indicator – newly integrated into Dennemeyer’s Portfolio Management App – are indispensable. The analytics software behind the indicator uses classifications from the Organisation for Economic Co-operation and Development to comb your patent portfolio for technologies that qualify as sustainable. And just like that, you have a snapshot of your portfolio’s green credentials without investing too much time and energy.

Of course, gathering and analysing data on IP is one thing, but there’s no substitute for legal expertise, and this is where the human touch still makes all the difference. “Dennemeyer has legal representation around the world,” Erdödy says. “They can help with getting a patent from the relevant authorities and, once that’s done, maintaining that protection. If another company challenges or infringes that IP, we have more than competent capacities to defend our client’s interests.”

Proving the green and sustainable credentials of an IP portfolio is not just for show – it makes a business attractive to major investors, too, enabling them to source funds that can be used to drive further progress.

According to a 2022 report by professional services firm PwC, institutional investment focused on ESG targets is predicted to hit $33.9tn (£27.7tn) in 2026, up from $18.4tn (£15tn) in 2021. On top of all their other commercial activities, it can be tricky for multinationals and startups to get a clear picture of the breadth and depth of their IP portfolio in order to maximise its potential. Especially its sustainable potential.

A lawyer meeting with clients
External consultants can help businesses monetise or divest their IP portfolios. Photograph: Alvaro Gonzalez/Getty Images

Time for a fresh pair of eyes
In these sorts of scenarios, people from outside an organisation can provide an objective, expert analysis of what’s working and what isn’t. “Consultants from Dennemeyer can go into a business to valuate and benchmark its IP portfolio under sustainability aspects,” says Dominique Christ, managing director at Dennemeyer IP Consulting. “This type of valuation supports clients by creating transparency over the contribution of their IP to the UN’s SDGs and increasing the company’s attractiveness to sustainability focused investors.”

In addition, such an analysis is highly beneficial for further IP strategy development. “It clearly points out strengths and identifies potential for improvement towards sustainability linked goals,” says Christ. Whether set internally by upper management and other stakeholders or mandated by government regulations, Christ’s team work towards fulfilling these obligations.

On the journey to net zero, IP consultants can support businesses seeking to invest in a profitable, viable and climate-resilient future. “A well-maintained IP portfolio can be a very effective tool for improving environmental impact, enhancing engagement with social issues and strengthening corporate governance,” says Christ.

The explosion in green technologies will benefit businesses and organisations of all types, whether they are developing immaculate diamond spheres to contain fuel for nuclear fusion or printing T-shirts made from renewably sourced fabrics. When innovators can be sure that they will be recognised and rewarded for all their hard work, there is no limit to what can be accomplished.

Learn more about how intellectual property can help secure your business’s green future