Avangrid Recognized Globally for Strong ESG Performance on FTSE4Good Index
Ranks among U.S. peers more than 90% higher in environmental areas such as commitments and actions against climate change and pollution and resources
ORANGE, Conn.–(BUSINESS WIRE)–Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, has announced it has once again been included in the global FTSE4Good Index Series, which measures the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. This is Avangrid’s sixth consecutive year as a member of the Index and Iberdrola has been ranked on it since 2009.
“Our work is rooted in a commitment to take action to address climate change, to focus on our communities, employees and customers and to hold ourselves to the highest ethical standards,” said Pedro Azagra, Avangrid CEO. “For over two decades, the Iberdrola Group has been leading the transition to clean energy and as a member of the Group, Avangrid is a key contributor to some of Iberdrola’s biggest climate goals like carbon neutrality. It is a proud moment to see us earn a significantly higher rating than our U.S. and global peers in climate change action. This demonstrates we’re making progress in building a clean energy future for all.”
Created by the global index and data provider FTSE Russell, the FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products. FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria.
In its most recent evaluation, Avangrid rated in the top quartile of its peers in FTSE Russell’s Utilities industry subsector for ESG Rating and earned FTSE’s highest score for commitments and actions against climate change and governance, which includes evaluation of risk management, corporate governance and anti-corruption. Furthermore, compared with its U.S. peers, Avangrid was rated more than 40% higher overall and more than 90% higher in environmental areas such as climate change and pollution and resources.
Avangrid’s climate action strategy is informed by the leadership of the Iberdrola Group, who have been leading the transition to clean energy and combating climate change for more than two decades while also offering a sustainable and competitive business model that creates value for society. Avangrid’s commitments include the company’s industry-leading target of achieving carbon neutrality for Scopes 1 and 2 emissions by 2030, which is aligned with Iberdrola’s emissions goals that have been certified by the Science-Based Targets Initiative (SBTi).
In addition to being included on the FTSE4Good Index Series, Avangrid has earned numerous recognitions this year for its ESG efforts, including being named among the world’s most sustainable companies by S&P Global for the third time, being recognized by JUST Capital as one of America’s best corporate citizens for the third consecutive year and being named among the World’s Most Ethical Companies by Ethisphere for the fifth year in a row.
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit avangrid.com
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Media:
Sarah Warren
sarah.warren@avangrid.com
585-794-9253
