Press release
Avangrid Recognized as One of the World’s Most Ethical Companies for Sixth Year
Annual recognition highlights organizations that have demonstrated a commitment to business integrity through robust ethics, compliance, and governance programs
ORANGE, Conn. — March 4, 2024 — Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and a member of the Iberdrola Group, has been recognized for the sixth consecutive year as one of the World’s Most Ethical Companies by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Avangrid is one of only eight honorees globally in the Energy and Utilities sector in 2024.
“Ethics are not just a set of rules, they are the moral compass that guides our decisions,” said Pedro Azagra, Avangrid CEO. “We’re incredibly proud to be one of the World’s Most Ethical Companies for the sixth year in a row. This recognition is a testament to the unwavering commitment of our entire Avangrid team and the Iberdrola Group to conduct business with the highest ethical standards. We will remain committed to upholding these principles and contributing positively to both our business and society.”
The 2024 World’s Most Ethical Companies list includes a total of 136 honorees spanning 20 countries and 44 industries. Avangrid’s continued presence on the list can be attributed to the company’s strong corporate governance and sustainability system, which is integral to Avangrid’s corporate purpose and comprehensive ESG+F strategy (environment, society, governance, and financial strength).
“Congratulations to Avangrid for earning their place among the World’s Most Ethical Companies for the sixth consecutive year,” said Erica Salmon Byrne, Ethisphere’s chief strategy officer and executive chair. “As Avangrid understands, being a good corporate citizen isn’t just about compliance; it’s about integrity, transparency, and accountability. Prioritizing ethical behavior not only gains the trust of stakeholders, but also creates a sustainable foundation for long-term success. We applaud Avangrid for their dedication to these values and for demonstrating that strong ethics is good business.”
Ethics & Performance
The listed 2024 World’s Most Ethical Companies® Honorees outperformed a comparable index of global companies by 12.3 percentage points from January 2019 to January 2024.
Methodology & Scoring
The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient®, an extensive questionnaire that requires companies to provide over 240 different proof points on their culture of ethics; environmental, social, and governance (ESG) practices; ethics and compliance program; diversity, equity, & inclusion; and initiatives that support a strong value chain. That data undergoes further qualitative analysis by Ethisphere's panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify truly best-in-class ethics and compliance practices from organizations across industries and from around the world.
Honorees
To view the full list of this year’s honorees, please visit the World’s Most Ethical Companies website, at https://worldsmostethicalcompanies.com/honorees.
Media Contact
For media inquiries, email: corporatecommunications@avangrid.com
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.
