Note: Single-source report; awaiting corroboration.
According to the OECD, the share of patented green technologies—relative to all patents—has declined since 2010, after previously rising steadily from 1990. Several factors may contribute to this decline, including lower fossil fuel prices, low carbon emissions pricing, the maturity of technologies like solar photovoltaics, and an increasing number of patents in digital technologies. However, no causal evidence has been established for these factors. The OECD suggests that new metrics could help further analyze the drivers of green innovation trends.
Despite the slowdown in green patents, the OECD reports that venture capital investment and deals in breakthrough green technologies have increased since 2007. Since venture capital often supports small, innovative firms, this trend may indicate growing backing for environmental innovation in emerging enterprises.
The report also notes that twin transition patents—innovations combining green and digital technologies—are geographically concentrated. From 2016 to 2020, about 90% of all international inventions originated from just 10 countries. Around 85% of patents classified as both green and digital came from five countries: China, the United States, Japan, Korea, and Germany. These leading nations in international innovation are also at the forefront of twin transition inventions.