Press release
Avangrid Named to Smart Electric Power Alliance’s 2030 Club for Leading Carbon Reduction Commitment
Initiative recognizes U.S. utilities with the most aggressive voluntary carbon reduction targets
Avangrid committed to reach carbon neutrality by 2030 and is one of the country’s cleanest utilities with an emissions intensity over six times lower than the U.S. power sector average
ORANGE, Conn. — September 28, 2023 — Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that it has been named to Smart Electric Power Alliance’s (SEPA) 2030 Club for being among the country’s leading utilities with the most aggressive carbon reduction commitments. This initiative aims to not only recognize these utilities for their targets, but also provide benchmarking and best practices for utilities that are preparing to meet their own carbon reduction targets.
The 2030 Club currently includes 25 utilities that have voluntarily committed to achieving at least an 80% reduction in carbon emissions, or a generation supply of at least 80% clean energy resources by 2030. Avangrid has committed to reaching carbon neutrality for Scopes 1 and 2 emissions by 2030 and is developing a strategy to address scope 3 emissions. This commitment is aligned with Iberdrola’s emissions goals, which have been certified by the Science-Based Targets Initiative (SBTi).
“Avangrid is one of the country’s cleanest utilities and we’ve been prioritizing decarbonization for many years,” said Pedro Azagra, Avangrid CEO. “Avangrid has maintained an emissions intensity that is at least six times lower than the U.S. power sector average since 2015 and we were the first U.S. utility to commit to carbon-neutral goals in 2017. We’ve strengthened our emissions goals since then as we work toward carbon neutrality. I’m very proud that these commitments and our actions have earned us membership in the 2030 Club. We look forward to collaborating with SEPA and other members to pave a path forward toward a cleaner energy future.”
As part of the 2030 Club initiative, SEPA will explore the characteristics that enabled these utilities to become early adopters and innovators in the utility carbon reduction arena. SEPA intends for this initiative to provide benchmarking and best practices for utilities that are preparing to meet their own carbon reduction targets. In 2024, SEPA plans to engage with 2030 Club and other interested utilities to explore best practices, lessons learned and remaining barriers to achieving carbon reduction goals.
“Avangrid’s leadership in this critical effort to reduce carbon emissions demonstrates the value of innovation and collaboration to solve really complex challenges," said Lakin Garth, SEPA Director, Research and Industry Strategy.
To compile its 2030 Club, SEPA collected each utility’s 2030 target and recent progress from publicly available data sources, including utility sustainability reports and other utility-specific information. SEPA then compared these utilities to national averages in areas like energy efficiency, demand response, and distributed solar. They also include information related to each utilities’ plans, investments and strategies.
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About Avangrid: Avangrid, Inc. is a leading U.S. energy company investing in grid infrastructure and power generation projects to deliver reliable energy and meet growing electricity demand. With approximately $50 billion in assets and operations across 25 states, Avangrid is helping modernize the U.S. electric grid, improve system resiliency, and support economic growth for the customers and communities it serves.
Avangrid owns and operates seven electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Avangrid also has nearly 100 energy generation facilities across the United States and more than 11 gigawatts of installed capacity. Avangrid has more than 8,300 employees and was named among the World's Most Ethical Companies in 2026 for the eighth consecutive year by the Ethisphere Institute. Avangrid is a member of the Iberdrola Group.
About Iberdrola: With a market capitalization of more than €140 billion, Iberdrola is the largest electricity company in Europe and one of the two largest in the world. The Group serves more than 100 million people around the world and has a workforce of 45,400 employees and assets of €165 billion. In 2025, Iberdrola posted a record net profit of €6.3 billion. The company contributes close to €10.4 billion in taxes in the countries where it operates and supports more than 500,000 jobs throughout its supply chain, thanks to €13.2 billion in purchases from tens of thousands of suppliers.
Since 2001, Iberdrola has invested more than €175 billion in electricity networks, renewable energy and energy storage to help create an energy model based on electrification. The company has close to 1.4 million km of electricity networks in the United States (the states of New York, Connecticut, Maine and Massachusetts), the United Kingdom (Scotland, England and Wales), Brazil (the states of Bahia, Rio Grande do Norte, Pernambuco, São Paulo and Mato Grosso do Sul, as well as Brasilia) and Spain, as well as 57,000 MW of capacity worldwide, of which more than 46,000 MW is renewable.
