Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Reproduced from European Patent Office, International Energy Agency; Chart: Axios Visuals

A new report from the International Energy Agency and the European Patent Office tracks the upward march of clean energy patent applications worldwide — and warns that it's not enough.

Driving the news: The report shows a resumption in clean energy patenting after a slump in recent years, and that innovation in these technologies is outpacing fossil fuel-related patenting.

Why it matters: While aggressively deploying existing tech is a huge part of the climate puzzle, the report says that significant evolution and invention is also needed.

  • "Technologies still currently at the prototype or demonstration phase represent around 35% of the cumulative CO2 emissions reductions needed to shift to a sustainable path consistent with net-zero emissions by 2070," the report states.
  • The IEA and EPO note that recent annual growth in low-carbon patenting is slower than it was earlier in the century before the slump.

What they're saying: “This report is a clear call for action to step up research and innovation into new low-carbon energy technologies, and improve existing ones," EPO President António Campinos said in a statement.

How it works: The report tracks hundred of thousands of low-carbon energy patent applications filed since 2000 and groups them into three buckets:

  • Low-carbon energy supply, like wind and solar.
  • Tech that boosts efficiency and switching to clean energy in sectors like transport, industry and buildings.
  • A cross-cutting bucket of "enabling" tech like batteries, hydrogen, smart grids, and a lot more.

The big picture: That middle bucket accounts for about 60% of low-carbon energy patents over the last five years.

  • Patents on the supply side have been on a downward trend over the last decade.
  • The groups said in a summary that this reflects the maturity of some sectors, like solar PV, which has "not yet been followed by a new wave of improvements to other renewables" like ocean energy.
  • Patenting in enabling tech, which includes batteries for EVs, has seen the highest growth in recent years.

The intrigue: Electric vehicle and battery-related inventions have been a major driver of patenting growth over the last decade.

  • That's visible in the report's breakdowns by company.
  • Among the top 15 applicants from 2000-2019, six are automakers — Toyota, GM, Ford, Honda, VW, and Hyundai — and six are battery suppliers.

Of note: The analysis looks at patent applications filed in multiple locations, thus covering "inventions deemed important enough by the inventor to seek protection internationally."

  • This is a "relatively small percentage of applications" and can be "used as a sound basis for comparing international innovation activities," IEA and EPO said.

Go deeper

Debt investors retreat from funding dirty energy

Illustration: Sarah Grillo/Axios

Banks are coming under fire from all sides for their role in funding fossil fuel companies, even though most have pledged to pull back over the coming decades.

What's happening: Despite pressure from activists, shareholders and Democratic politicians to finally divest from carbon-spewing businesses as the planet warms, the biggest American banks are still energetically backing dirty energy.

Elon Musk's mega-billion bounty

Photo: Patrick Pleul/picture alliance via Getty Images

Here's how insanely rich Elon Musk is: He has unloaded $10 billion of his stock in the past month — and could do that 15+ more times given his silos of shares.

Ina Fried, author of Login
2 hours ago - Technology
Column / Signal Boost

Huawei sanctions snarled chip supply chains

Illustration: Sarah Grillo/Axios

The largely successful U.S. effort to hobble China's Huawei has benefitted a host of other tech companies — from smartphone makers such as Apple and Xiaomi to chipmakers like Qualcomm to network vendors including Nokia and Ericsson.

Yes, but: The massive disruption to the industry furthered an industry wide mismatch between supply and demand, exacerbating the global chip shortage.