The number of global patents registered for carbon capture and storage (CCS) has shown a notable increase, rising by 22% during the 2020-2021 period, marking the fifth consecutive annual increase. According to accountancy and business advisory firm BDO, there were 203 registrations compared to 167 in the previous year. This figure also represents a significant 227% surge compared to the 62 CCS patents registered five years ago.
China holds the majority share, accounting for 81% of the total patents registered. As the world's largest emitter of carbon emissions and with more than 50% of the world's coal power generation, China has recently inaugurated its first offshore carbon capture facility, reflecting its commitment to tackling emissions.
The United States ranks second in terms of patent registrations, comprising 9% of the total. The US government's infrastructure bill of US$1.75 trillion includes provisions for US$12 billion allocated to carbon capture initiatives.
The United Kingdom accounts for 1% of the patents registered. In its 2020 budget, the UK government pledged £1 billion for carbon capture infrastructure. CCS involves the process of capturing CO2 from emissions produced by industrial processes and storing it, often in depleted oil and gas reservoirs or coalbeds. In some cases, the captured CO2 can also be repurposed for the production of commercial products, effectively removing it from the carbon cycle.
Among the sectors adopting CCS technology, the energy sector takes the lead with 32% of CCS patents registered in 2020-2021, accounting for 16% of the total patents. Besides oil and gas companies, other sectors embracing this technology include cement, sewage and garbage treatment works, mining, agriculture, steel, and construction. The growing interest in CCS across various industries highlights the increasing recognition of its potential in reducing carbon emissions and contributing to a more sustainable future.
