In this article, we will take a look at the 5 best ESG stocks to buy now. To see more such companies, go directly to 13 Best ESG Stocks To Buy Now.
5. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 171
As one of the largest payment-processing companies, Visa Inc. (NYSE:V) announced its intention in 2020 to digitally enable 50 million small and micro businesses by 2023. It also collaborated with CPI Card Group to roll out the Earthwise High Content Card, which is made with up to 98% upcycled plastic. The company has deployed onsite EV chargers in the US to enhance commute with a lighter footprint. Starting in 2020, Visa Inc. (NYSE:V) achieved carbon neutrality throughout its operations and transitioned to 100% renewable electricity. Visa Inc. (NYSE:V) also partnered to create a sustainable travel initiative, Travalyst, as it estimates that 1.8 billion people globally will travel by 2030.
Out of 910 hedge funds profiled by Insider Monkey, there were 171 hedge funds investors who had invested in Visa Inc. (NYSE:V). Chris Hohn’s TCI Fund Management was the largest stakeholder which owned 17.8 million stakes that were valued at $4.2 billion.
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 175
With $1 trillion in market capitalization, NVIDIA Corporation (NASDAQ:NVDA) ranks 4th in our list of the best ESG stocks to buy now. In its fiscal 2023 corporate social responsibility report, the semiconductor manufacturing giant said its employees contributed over 16,500 volunteer hours and $22 million to charities and donations in fiscal 2023. NVIDIA Corporation (NASDAQ:NVDA) has set a target to achieve and maintain 100% renewable electricity across its operations and data centers by fiscal 2025. This year, NVIDIA Corporation (NASDAQ:NVDA) also raised the percentage of its consolidated electricity use matched by renewable energy acquisitions to 44%, with green utility tariffs and energy attribute certificates. The company also says that its latest GPU retail packaging is “100% biodegradable.”
Insider Monkey took a look at hedge fund portfolios for NVIDIA Corporation (Nasdaq:NVDA)’s Q2 2023 investments and found out that 175 had a stake in NVIDIA Corporation (Nasdaq:NVDA. Citadel Investment Group was its biggest stakeholder which has roughly 21.4 million stakes for about $9 billion of NVIDIA Corporation (Nasdaq:NVDA).
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 225
Meta Platforms, Inc. (NASDAQ:META) ranks 3rd in our list of the best ESG stocks to buy now. As of 2020, Meta Platforms, Inc. (NASDAQ:META) international operations reached net zero emissions and were supported by 100% renewable energy. In its 2023 sustainability report, Meta’s Vice President of Data Center Strategy Rachel Peterson said that the firm is moving towards the goals of net zero emissions throughout the value chain and becoming water positive across its operations, anticipating to attain both of these benchmarks in 2030. To cover its Scope 1 and 2 emissions, Meta Platforms, Inc. (NASDAQ:META) eliminated 80,000 tons of carbon dioxide with carbon removal projects this year. The technology giant posted Q3 earnings of $4.39 per share and total revenue of $34.1 billion.
Insider Monkey took a look at hedge fund portfolios for Meta Platforms, Inc. (Nasdaq:META) in Q2 and found out that 225 had a stake in the company. Citadel Investment Group was the firm’s largest stakeholder which had roughly 19.5 million stakes for about $5.6 billion of Meta Platforms, Inc. (Nasdaq:META).
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 278
Seattle, Washington-based Amazon.com, Inc. (NASDAQ:AMZN) ranks 2nd in our list of the best ESG stocks to buy now. The company intends to achieve net-zero carbon emissions by 2040 and empower its operations with 100% renewable energy by 2025. In July 2020, Amazon.com, Inc. (NASDAQ:AMZN) also introduced The Climate Pledge Fund to enhance the development of sustainable technologies and services for meeting The Climate Pledge. In 2021, Amazon.com, Inc. (NASDAQ:AMZN) also set aside about $21.2 million for nature-based projects across Europe. Recently, the e-commerce giant also said it started 39 new renewable energy projects in Europe so far in 2023, that added over 1 gigawatts of clean energy capacity to grids throughout the continent.
A total of 278 out of the 910 hedge funds tracked by Insider Monkey had stakes in Amazon.com, Inc. (NASDAQ:AMZN). The most significant stakeholder of Amazon.com, Inc. (NASDAQ:AMZN) was Ken Griffin’s Citadel Investment Group which had a $4.4 billion stake in the company.
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 300
Microsoft Corporation (NASDAQ:MSFT) tops our list of the best ESG stocks to buy now. By 2030, Satya Nadella-led Microsoft Corporation (NASDAQ:MSFT) expects to be carbon negative and by 2050, it intends to eliminate its emissions. It also anticipates to be zero waste throughout its direct waste footprint by the end of this decade. For climate change, Microsoft Corporation (NASDAQ:MSFT) is committing to $1 billion investment initiative through the next four years for climate change technologies. At the end of last year, Microsoft Corporation (NASDAQ:MSFT) appointed Melanie Nakagawa as its new chief sustainability officer. In fiscal Q1 2024, it reported earnings of $2.99 per share and revenue of $56.5 billion.
“While the world will need to reach net zero, those of us who can afford to move faster and go further should do so,” Microsoft’s Vice Chair and President Brad Smith said.
Out of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 300 funds held stakes in Microsoft Corporation (NASDAQ:MSFT), up from 289 in the previous quarter. Michael Larson’s Bill & Melinda Gates Foundation Trust was the largest stakeholder that owned 39.3 million stakes of Microsoft Corporation (NASDAQ:MSFT) that were valued at $13.4 billion.
Disclosure: None. You can also take a look at 11 Best Green Stocks To Invest In 2023 and 12 Best Renewable Energy Stocks to Buy Now.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
