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04/17/2023

AVANGRID Reports Strong Progress On Ambitious ESG+F Goals And Reinforces Its Commitment To Climate Action  

AVANGRID Reports Strong Progress On Ambitious ESG+F Goals And Reinforces Its Commitment To Climate Action  

Releases its 2022 Sustainability Report, sharing that it met or exceeded 85% of the company’s 2022 Environmental, Social, Governance and Financial Stewardship goals 
Among its many achievements is operating 8.7 GW of emissions-free installed capacity, enough to power more than 2.8 million homes, and progressing toward Scopes 1 and 2 carbon neutrality by 2030

ORANGE, Conn. — April 17, 2023 — AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today released its 2022 Sustainability Report, titled “Investing in a Clean Energy Future for All,” which details that the company met or exceeded 85% of its 2022 Environmental, Social, Governance and Financial Stewardship (ESG+F) goals. The report also indicated AVANGRID is on track to meet its ambitious long-term ESG+F goals by demonstrating clear progress and actions underway to support their achievement. This includes AVANGRID’s industry-leading 2030 carbon neutrality targets for scopes 1 and 2 and its commitment to reach 16.9 GW emissions-free installed capacity by 2030.

“With 91% emissions-free generation and an emissions intensity over six times lower than the U.S. utility average, AVANGRID demonstrates true clean energy leadership,” said Pedro Azagra, CEO of AVANGRID. “We set the bar high and continue to raise it with comprehensive commitments across all aspects of ESG+F, as you’ll see demonstrated throughout our 2022 Sustainability Report. Our strong track record of ESG+F execution ensures that we, along with the Iberdrola Group, are a critical and strategic leader in advancing the transition to a clean and sustainable future.”

The company’s annual Sustainability Report tracks and highlights AVANGRID’s sustainability results towards its ESG+F commitments and how these actions are creating a clean energy future. The company’s ESG+F goals include but are not limited to: Scopes 1 and 2 carbon neutrality (by 2030), increasing emissions-free installed capacity by 190% compared to 2015 (by 2030), increasing supplier diversity spend to $300 million (in 2025) and reaching 35,000 employee volunteer hours (in 2025).

Among the 2022 successes highlighted in the report, AVANGRID achieved: 
•    8.7 GW installed emissions-free capacity.
•    35% of women in executive positions, reaching its aspirational goal set for 2025 three years early. 
•    28% reduction in CO2 emissions intensity (compared to 2015). 
•    Sustaining a leadership position as the third-largest green, social and sustainability bonds issuer in the U.S.
•    10,464 employee volunteer hours, well surpassing its 2022 goal of 7,000 hours. 
•    $195 million spent with diverse suppliers and 67% of our suppliers met our sustainability standards.
•    42,000 hours of cybersecurity training and a 50% reduction in phishing click rate, putting the company ahead of its 2025 goal. 
•    Recognition by third parties as a leader in ethics, including being named one of the World’s Most Ethical Companies by Ethisphere for a fifth consecutive year. 

“At AVANGRID, we make a commitment and then we take action,” said Laney Brown, Vice President of Sustainability at AVANGRID. “Across the board, we are making excellent progress on our ESG+F goals and commitments. We’re demonstrating that clean energy is not just a beneficial outcome for the environment and society, but an opportunity to help people and communities participate in the clean energy transition through new jobs, and for leading companies like ours to make critical and strategic investments.”

A full list of AVANGRID’s ESG+F goals and its 2022 achievements can be found in the 2022 Sustainability Report here
 

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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