As the world becomes increasingly conscious of environmental issues, investors are seeking more sustainable companies to add to their portfolios, recognising that their money can be best leveraged to support businesses that prioritise sustainability and innovation in addressing climate change.
If you’re one of them, then there are a raft of exciting and forward-thinking companies to consider investing in 2024 that place environmental stewardship at the heart of their ethos and operations. Here, we take a look at the top players to have on your radar.
Tesla, Inc.
The first and perhaps most obvious inclusion on this list is Tesla – Elon Musk’s electric vehicle company, which has long been a front-runner in the EV market. On a mission to accelerate a global transition towards sustainable energy, Tesla now offers an array of impressive electric cars, including its Model S sedan, Model X SUV, and the more affordable Model 3, setting the bar high when it comes to performance safety and efficiency within the market and holding its competitors to high standards as a result.
Tesla is about more than just cars, though, and its dedication to sustainability extends far beyond them. It’s also known for its innovative energy solutions, which include its Powerwall and Solar Roof products, with a focus on sustainable energy storage for later use. The idea is to minimize the need for unsustainable and non-renewable energy sources by providing homeowners with a viable alternative, and its efforts are showing great promise.
Given its ambitious long-term plans in the field, the Tesla stock price continues to rise. This innovative company remains one of the most intriguing investment prospects for this year, and its visionary leadership ensures it is very much one to watch.
NextEra Energy, Inc.
Another sustainable energy company showing promising performance is NextEra Energy, one of the largest producers of wind and solar energy in the world. Its commitment to propelling cleaner energy solutions into the mainstream and, in turn, reducing greenhouse gas emissions makes it an admirable option for investing capital and a good option for making consistent long-term returns.
NextEra Energy’s goal is to reduce carbon emissions by 67 per cent by 2025 – certainly no small feat, but it’s evidently committed to the cause. With a proven track record and ongoing growth as it continues to invest in a diverse array of sustainable energy projects, it’s certainly worthy of a place in your portfolio.
Patagonia, Inc.
If you’re looking for an alternative to sustainable energy to invest in, then outdoor apparel brand Patagonia is another environmentally conscious choice, and its mission is to “build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis” is certainly an admirable one. Its product line is centred around sustainable and ethically sourced materials, placing transparency, fair labour practices, and environmental responsibility at the centre of all it does.
It’s also active in supporting environmental causes, and as a well-known brand with ethical business practices, it’s becoming an increasingly attractive prospect for the conscious investor in 2024 and beyond.
Beyond Meat, Inc.
The UK’s vegan population is at an all-time high and continues to grow by an estimated 1.1 million in a year. Around 2.5 million UK adults were thought to be following a vegan diet at the start of 2024 – that’s around 4.7 percent of the population – and with an even larger number of individuals seeking to cut down on their consumption of animal products for environmental reasons, the demand for plant-based protein options continues to rise.
Beyond Meat remains a leader in this field, and in 204, it offers a diverse array of products designed to mimic the taste and texture of meat without compromising on flavour. Made entirely from plants, the concept of delicious, sustainable food options that reduce the environmental impact of traditional meat production is what it has set out to achieve, and so far, it seems to be doing a great job.
Placing itself at the forefront of the meat-free movement, Beyond Meat now enjoys strong brand recognition, and with its product line expected to expand further over the next few years, it’s an appealing investment opportunity if you’re keen to support the growth of sustainable food solutions.
Disclaimer: Investing money carries risk, do so at your own risk and we advise people to never invest more money than they can afford to lose and to seek professional advice before doing so.
