7 Best Ethical Companies To Invest In According to Reddit

4. First Solar, Inc. (NASDAQ:FSLR)

Number of Hedge Fund Holders: 66

First Solar, Inc. (NASDAQ:FSLR) is an American company in the solar energy industry that specializes in manufacturing solar panels and developing utility-scale photovoltaic (PV) power plants. The company is recognized for its innovative use of cadmium telluride (CdTe) in thin-film solar modules, a technology that has allowed the company to achieve significant cost efficiencies and energy production milestones.

It became publicly traded in 2006 and has since established itself as a key player in the global solar market, focusing on sustainable energy solutions that do not rely on government subsidies. With manufacturing facilities across the globe and a commitment to advancing solar technology, it continues to be a driving force in the transition to renewable energy. It is one of the best ethical companies to invest in.

It is one of the best ethical companies as it mandates that all suppliers follow the Responsible Business Alliance Code of Conduct, which includes commitments against using forced or child labor. First Solar (NASDAQ:FSLR) emphasizes voluntary employment, humane treatment, and a safe work environment. It offers competitive wages and benefits, ensures non-discriminatory practices, and respects employees’ rights to freely associate and bargain collectively.

Additionally, the company provides a confidential grievance channel and a third-party Ethics Hotline to report and address concerns. The company ensures there is no retaliation for reporting issues and conducts audits to monitor supplier compliance and environmental and social performance. This comprehensive approach shows the company’s commitment to ethical and humane practices within its global operations.

According to First Solar’s (NASDAQ:FSLR) CEO, Mark R Widmar, sustainability is central to the company’s mission and drives its operations. It aims to surpass industry standards in areas such as recycling, supply chain transparency, and environmental impact. Its commitment is reflected in the development of solar technology that prioritizes social and environmental responsibility.

This approach, termed “Responsible Solar,” ensures that the company’s products are not only high-quality but also support the fight against climate change and uphold ethical practices, including the prohibition of forced labor.

As of the second quarter, 66 hedge funds had stakes worth $1.7 billion in First Solar (NASDAQ:FSLR). This is up from 51 hedge funds with stakes worth $1.12 billion in the previous quarter. Robert Pohly’s Samlyn Capital is the company’s largest shareholder with $1.068 million shares worth $240.78 million, as of June 30.