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Ethics & Compliance
Ethics & Compliance
Empowering our Compliance Organization to Ensure Best Ethical Practices
Avangrid's Compliance Division, which is led by our Chief Compliance Officer (CCO), is responsible for a corporate compliance program intended to ensure we comply with an extensive array of legal and ethical requirements. The Compliance Division collaborates across the organization, working to make sure we both comply with the law and align with our own ESG+F strategies while meeting or exceeding our commitments to the highest ethical behavior.
The Avangrid Code of Business Conduct and Ethics (the “Code”) is the basis for our Compliance Program, as are the criteria for an effective compliance program established under Chapter 8 of the U.S. Federal Sentencing Guidelines for Corporations. The Code is applicable to all directors, officers and employees across our entire company It details our core ethical values, establishes standards of conduct and includes guidance designed to help employees at all levels of our organization make appropriate, informed decisions when faced with questions and issues of an ethical nature. To ensure that the Code remains current with any ethical challenges our employees may face, it is reviewed and updated annually.
A recognized leader in compliance
During 2022, Avangrid was recognized for the third consecutive year as one of the World’s Most Ethical Companies by the Ethisphere Institute, a global thought leader in defining standards for ethical business practices. The honor is extended to companies that recognize and are committed to influencing and driving positive change in the global business community. The company was one of only nine honorees in the Energy and Utilities category. Avangrid has also been awarded Compliance Leader Verification certification by the Ethisphere Institute. This certification is awarded exclusively to companies that maintain best-in-industry corporate compliance programs and is granted only after an extensive assessment process. This certification is a further demonstration of the priority placed on compliance and ethics at the company. The due diligence process to achieve Compliance Leader Verification requires that Ethisphere Institute’s researchers and analysts conduct detailed reviews of an organization’s compliance and ethics-related initiatives, and benchmark them against corporate and industry best practices, including in the following areas:
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 support for the compliance environment
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.
