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04/22/2024

On Earth Day, Avangrid’s 2023 Sustainability Report Surpasses Previous Year Results on Climate Action

On Earth Day, Avangrid’s 2023 Sustainability Report Surpasses Previous Year Results on Climate Action

Company achieves remarkable year-over-year progress on more than 85% of its sustainability goals
Report includes new Just Transition section dedicated to Avangrid’s commitment to advancing a clean energy transition that is fair and inclusive
Highlights how the company’s sustainability efforts led to 14 national and global recognitions in 2023

ORANGE, Conn. — April 22, 2024 — Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and a member of the Iberdrola Group, is marking Earth Day by announcing strong progress on the company’s sustainability commitments. Avangrid today released its 2023 Sustainability Report, titled “Our journey continues: Advancing the clean energy transition,” which details how Avangrid achieved year-over-year progress on more than 85% of its goals. 

“We are more committed than ever to ensuring that we’re doing the right thing for our communities, customers, people and planet,” said Pedro Azagra, Avangrid CEO. “After all, climate change is an unprecedented global challenge that is elevating the need for clean energy solutions around the globe. As you will see in this year’s Sustainability Report, our actions are making a difference to advance decarbonization and accelerate an equitable, accessible transition to clean energy.”

The company’s annual Sustainability Report tracks and highlights Avangrid’s results towards its sustainability commitments and how these actions are creating a clean energy future. The company’s goals include scope 1 and 2 carbon neutrality (by 2030), achieving 12.5 GW emissions-free installed capacity (by 2030), and reaching 35,000 employee volunteer hours (in 2025). Additionally, new to this year’s report is a section dedicated to Avangrid’s commitment to advancing a Just Transition. This section outlines how Avangrid is working toward a Just Transition that greens the economy in a way that is fair and inclusive.  

Among the 2023 accomplishments highlighted in the report, Avangrid achieved:

  • Advancing construction of the country’s first large-scale offshore wind farm Vineyard Wind 1, leading to the project exporting recurrent power into New England on January 2 of this year.
  • More than 23,000 volunteer hours across 26 states, more than doubling the company’s volunteer hours from 2022. 
  • Investing $185 million in climate mitigation and adaption to helping build a smarter, stronger grid protected from the increasingly significant impacts of extreme weather events.
  • 14 sustainability accolades in 2023, including being named one of America’s Climate Leaders by USA Today. 
  • Growth from 5% in 2022 to 44% in 2023 in renewable electricity in corporate buildings. 
  • Launching a workforce development partnership with Utility Workers Union of America Local 407-1 and two technical high schools in Connecticut to ready the next generation of lineworkers.
  • Designation as one of the World’s Most Ethical Companies for the fifth year in a row by Ethisphere.
  • Spending $284 million with diverse suppliers in 2023 – a 45% increase from the prior year.

“At Avangrid, our focus on sustainability is core to every decision we make, and our business is guided and strengthened by our sustainability commitments,” said Laney Brown, vice president of sustainability at Avangrid. “I’m very proud of the progress we’ve made in the last year and excited to release our 2023 Sustainability Report that details our actions. As we look to the future, we’ll continue to address critical issues like climate change, protecting biodiversity, building opportunities for our employees and helping our communities access the resources they need to thrive.”

About Avangrid

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.

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