Press Releases
03/04/2020
AVANGRID Listed Among World’s Most Ethical Companies in 2020 for Second Consecutive Year by Ethisphere
AVANGRID Listed Among World’s Most Ethical Companies in 2020 for Second Consecutive Year by Ethisphere
ORANGE, Conn. — March 4, 2020 — AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, has again been recognized by Ethisphere as one of the 2020 World’s Most Ethical Companies.
The announcement marks the second consecutive year that AVANGRID has earned the designation from Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
AVANGRID is one of only nine honorees in the Energy and Utilities sector in 2020. A total of 132 honorees were recognized spanning 21 countries and 51 industries.
“AVANGRID’s commitment to corporate ethics is core to our identity and it is reflected in every aspect of our business. Being recognized by Ethisphere as one of the World’s Most Ethical Companies demonstrates that we have internalized this commitment as an organization. I’m proud of our employees for making ethics central to their daily work,” said AVANGRID Chief Executive Officer Jim Torgerson.
“AVANGRID has worked hard to establish a reputation for corporate ethics and good governance,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “This is a purpose-driven organization with a clear vision for promoting healthier, more sustainable communities. Congratulations to everyone at AVANGRID for earning this recognition.”
Ethics & Performance
Ethisphere’s research supports the conclusion that ethics and financial performance go hand-in-hand. Its annual practice of tracking how the stock prices of publicly traded honorees compare to the Large Cap Index found that listed 2020 World’s Most Ethical Companies outperformed the large cap sector over five years by 13.5 percent. This “Ethics Premium” forms the basis upon which companies can correlate responsible behavior with shareholder value.
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honorees will be released in a report and webcast in March and April of this year.
All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programs stand against the demanding standards of leading companies.
Honorees
The full list of the 2020 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
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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.
