Ethics & Integrity
AVANGRID is committed to the promotion of its environmental, sustainability and governance goals. Our strategy and actions are inspired by, and built on, values and behaviors established by the Board of Directors and articulated in our Code of Business Conduct and Ethics. AVANGRID’s commitment creates value in a sustainable way by focusing on integrity and social responsibility in business, with the goal of benefiting our employees, the customers we serve and the communities in which we operate. During 2020, in recognition of this commitment, AVANGRID was included in the annual Forbes and JUST Capital 2021 JUST 100 list of America’s Best Corporate Citizens. Within this list, AVANGRID was ranked number one within our industry for our commitments to the environment and to the communities we serve.
During 2021, 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
SUPPLIERS’ CODE OF ETHICS
AVANGRID extends its ethical standards under the Code of Business Conduct and Ethics to all its vendors. Vendors are required by contract to comply with the Suppliers’ Code of Ethics, available on the company’s public website. Both the Code of Business Conduct and Ethics and the Suppliers’ Code of Ethics were updated in 2020 to further reinforce AVANGRID’s commitment to human rights. In keeping with its goal of continuous improvement, in 2020, the Compliance Division continued to refine its ethics and compliance screening process for vendors. This process supplements existing due diligence – improving what are already considered industry-leading practices.
STATISTICS ON CORRUPTION
Zero incidents of corruption — no fines, penalties or settlements in relation to corruption.