Press Releases
12/27/2018
AVANGRID Achieves Globally Recognized Certification For Corporate Compliance and Ethics
AVANGRID Achieves Globally Recognized Certification For Corporate Compliance and Ethics
FOR IMMEDIATE RELEASE
ORANGE, Conn. — Dec. 27, 2018 — AVANGRID, Inc. (NYSE: AGR), a leading diversified energy company, today announced that it has earned Compliance Leader Verification from the Ethisphere Institute, a global leader in defining and advancing standards for ethical business practices.
Ethisphere awards Compliance Leader Verification certification exclusively to companies with best-in-industry corporate compliance programs, sending a clear signal to key stakeholders that their company takes compliance and ethics seriously.
“As a leading sustainable energy company that envisions a better future for all stakeholders, we at AVANGRID believe it is important not only to do the right thing, but also to do it in the right way. That means conducting ourselves ethically, transparently and in conformance with strong corporate governance rules,” said AVANGRID CEO Jim Torgerson. “Ethisphere’s Compliance Leader Verification certification recognizes our collective commitment to incorporate that approach into every business process at AVANGRID and its subsidiaries.”
AVANGRID is majority-owned by Iberdrola, S.A., which has itself been named among the world’s most ethical companies by the Ethisphere Institute for five consecutive years.
"The review team was impressed by the way in which the leadership team at AVANGRID has demonstrated a strong commitment to doing business the right way,” said Erica Salmon Byrne, Executive Vice President at Ethisphere. “The ethics and compliance program is well-structured and focused on being a strategic business partner and not an administrative hurdle to conducting business. They've consistently demonstrated the immense value-add that a first-class ethics and compliance function can be for an organization."
Through the Compliance Leader Verification process, the Ethisphere Institute’s researchers and analysts conduct a detailed review of the organization’s compliance and ethics-related initiative, and benchmark them against their World’s Most Ethical Companies® dataset for corporate and industry best practices, including:
- 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 Perceptions of the Compliance Environment
More information about Compliance Leader Verification is available at https://ethisphere.com/what-we-do/program-assessments/.
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About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 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 approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
