Press Releases
06/01/2021
Governance and Sustainability System
Governance and Sustainability System
The Board of Directors of Avangrid, Inc. (the “Company” or “Avangrid”) oversees the management of Avangrid and its business with a view to enhancing the long-term value of Avangrid. Avangrid's governance and sustainability system is inspired by and based on a commitment to ethical principles, transparency, and leadership in the application of best practices in good governance and is designed to be a working structure for principled actions, effective decision-making, and appropriate monitoring of both compliance and performance. The Company’s By-Laws, the corporate policies, the internal corporate governance rules, and the other internal codes and procedures approved or adopted by Avangrid's Board of Directors form the framework of governance of Avangrid. Avangrid's governance and sustainability system is periodically reviewed by the Board of Directors and is subject to modification from time to time.
Avangrid is a member of the Iberdrola group of companies, of which Iberdrola, S.A. is the controlling member. Reflecting the Purpose and Values of the Iberdrola group, the Iberdrola governance and sustainability system articulates the rules and principles governing the organization, operation, and conduct of the Iberdrola group. The structure of the Iberdrola group and its governance and organizational model, supervision, and coordination are further defined in the Policy for Definition and Coordination of the Iberdrola Group and Foundations of Corporate Organisation approved by the Board of Directors of Iberdrola, S.A. Premised on a decentralized structure, Iberdrola, S.A. is responsible for the organization and strategic coordination of the Iberdrola group with the management of each Iberdrola group company vested in such company’s board of directors. The Iberdrola corporate governance system provides a special framework of strengthened autonomy for members of the Iberdrola group that are listed on a national stock exchange that empowers such companies to further develop their own corporate governance system.
AVANGRID Governance and Sustainability System [PDF]
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.
