Ethics & Compliance

Empowering our Compliance Organization to Ensure Best Ethical Practices

Avangrid's Compliance Division, which is led by our Chief Compliance Officer (CCO), is responsible for a corporate compliance program intended to ensure we comply with an extensive array of legal and ethical requirements. The Compliance Division collaborates across the organization, working to make sure we both comply with the law and align with our own ESG+F strategies while meeting or exceeding our commitments to the highest ethical behavior.

The Avangrid Code of Business Conduct and Ethics (the “Code”) is the basis for our Compliance Program, as are the criteria for an effective compliance program established under Chapter 8 of the U.S. Federal Sentencing Guidelines for Corporations. The Code is applicable to all directors, officers and employees across our entire company It details our core ethical values, establishes standards of conduct and includes guidance designed to help employees at all levels of our organization make appropriate, informed decisions when faced with questions and issues of an ethical nature. To ensure that the Code remains current with any ethical challenges our employees may face, it is reviewed and updated annually.

A recognized leader in compliance

During 2022, Avangrid was recognized for the third consecutive year as one of the World’s Most Ethical Companies by the Ethisphere Institute, a global thought leader in defining standards for ethical business practices. The honor is extended to companies that recognize and are committed to influencing and driving positive change in the global business community. The company was one of only nine honorees in the Energy and Utilities category. Avangrid has also been awarded Compliance Leader Verification certification by the Ethisphere Institute. This certification is awarded exclusively to companies that maintain best-in-industry corporate compliance programs and is granted only after an extensive assessment process. This certification is a further demonstration of the priority placed on compliance and ethics at the company. The due diligence process to achieve Compliance Leader Verification requires that Ethisphere Institute’s researchers and analysts conduct detailed reviews of an organization’s compliance and ethics-related initiatives, and benchmark them against corporate and industry best practices, including in the following areas:

• Ethics and compliance program resources and structure

• Employee perceptions of ethical culture

• Written standards

• Training and communications

• Risk assessment, monitoring and auditing

• Enforcement, discipline and response

• Employee knowledge of ethics and compliance concepts

• Senior leader support for the compliance environment