Press Releases
02/26/2019
AVANGRID Named One of the World’s Most Ethical Companies® in 2019 by the Ethisphere Institute
AVANGRID Named One of the World’s Most Ethical Companies® in 2019 by the Ethisphere Institute
ORANGE, CT — February 26, 2019 — AVANGRID, Inc. (NYSE: AGR), a leading diversified energy company, has been recognized as one of the World’s Most Ethical Companies for 2019 by the Ethisphere Institute, a global thought leader in defining and advancing standards for ethical business practices.
“This recognition by the Ethisphere Institute validates our commitment to the highest standards of safety, ethics and corporate governance in everything we do. This steadfast principle guides our focus on customers, colleagues, regulators and shareholders, as well as our impact on the environment and our communities,” said AVANGRID CEO Jim Torgerson.
“Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform, but last,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “I congratulate everyone at AVANGRID for earning this recognition.”
AVANGRID is a leader in the transformation to a competitive clean energy future, with firm commitments to safeguarding the environment, reducing our generation carbon footprint, growing as a sustainable company, and providing safe, affordable and reliable energy to our customers.
This is the first time AVANGRID has been recognized for this prestigious honor, and the company is one of only six honorees in the “Energy and Utilities” category. The Ethisphere Institute began compiling this ranking in 2007, with the purpose of acknowledging the role of companies dedicated to promoting ethical culture in the global corporate community.
For 2019, 128 honorees were recognized by Ethisphere, spanning 21 countries and 50 industries. This thirteenth class of honorees profoundly illustrates how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
Honorees
The full list of the 2019 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
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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.
