Press Releases
Governance
Governance
AVANGRID’s Board of Directors considers the fight against climate change a strategic priority for the company. In 2021, the Board of Directors approved updates to AVANGRID’s Climate Change Policy to incorporate new emissions goals. The Climate Change Policy articulates AVANGRID’s commitment to contributing to the achievement of Goals 7 and 13 of the UN Sustainable Development Goals (SDGs). The AVANGRID Board of Directors, through its Compensation, Nominating and Corporate Governance Committee, reviews the policy annually to ensure alignment with AVANGRID’s current climate-related goals and objectives.
The Board of Directors oversees AVANGRID’s policies and procedures for managing sustainability and environmental, social and governance risk. The Chief Executive Officer of AVANGRID, who is a member of the AVANGRID Board, is responsible for sustainability and citizenship.
The Compensation, Nominating and Corporate Governance Committee is responsible for overseeing environmental, social and governance (“ESG”) risk management and AVANGRID’s non-financial sustainability reporting.
The Chief Risk Officer (CRO), who reports to the Chief Financial Officer, evaluates the risks of direct or indirect economic losses resulting from external events, including the risk related to climate change. The CRO is responsible for preparing the information and for reporting to the Audit and Compliance Committee and the Board of Directors.
In 2020, the AVANGRID Environmental, Social and Governance Committee was established as a management committee to support AVANGRID’s ESG and sustainable development strategies, policies, programs, practices and initiatives. This committee is comprised of corporate and operating senior leaders and is responsible for reviewing and monitoring AVANGRID’s sustainability and climate change-related activities, performance and disclosures.
HIGHLIGHTS
- Designated as one of the World’s Most Ethical Companies by the Ethisphere Institute in 2021
- Named U.S. company with Best Corporate Governance by World Finance Magazine in 2019
- Recognized by Corporate Secretary Magazine as a finalist in the category “Best Compliance and Ethics Program (Large Cap)”
- Achieved Compliance Leader Verification status from the Ethisphere Institute
Learn more about Corporate Governance
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.
