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RBC Capital Markets recently published its inaugural Global Environmental, Social and Governance Best Ideas list.
The report features 39 of the firm's top picks for companies with strong ESG practices that are also smart investment ideas.
RBC's analysts chose the companies by assessing ESG factors in addition to completing a fundamental financial analysis.
Based on the list, here are the top eight US-based stocks that RBC says socially conscious investors can buy to beat the market in 2019. They're ranked in increasing order of implied return to price target. All quotes are attributable to the RBC team.
ESG rationale: "Maintained net-zero GHG emissions since 2018 and is more than halfway toward reaching its goal of 100 percent renewable energy by 2022."
ESG rationale: "Contributes to the social and economic development of the communities in which it operates through development programs, local sourcing of goods and services, and local employment."
ESG rationale: "Focused on delivering sustainability-driven innovation across all businesses, including energy-efficient fiberglass insulation and roofing solutions."
ESG rationale: "Ranked among industry leaders in the area of clean technology opportunities; VMWare's virtualization and cloud computing solutions helped customers avoid 84 million metric tons of carbon dioxide in 2017."
ESG rationale: "Committed to responsible investment, with USD 86 billion AUM, or 7.2 percent of total AUM, invested in assets that incorporate ESG criteria as of year-end 2017."
ESG rationale: "The company has set a target to reduce global Scope 1 and 2 GHG emissions by 25 percent by 2025, relative to a 2016 baseline, through renewable energy and energy efficiency technologies."
