AVANGRID Achieves Globally Recognized Certification For Corporate Compliance and Ethics
FOR IMMEDIATE RELEASE
ORANGE, Conn. — Dec. 27, 2018 — AVANGRID, Inc. (NYSE: AGR), a leading diversified energy company, today announced that it has earned Compliance Leader Verification from the Ethisphere Institute, a global leader in defining and advancing standards for ethical business practices.
Ethisphere awards Compliance Leader Verification certification exclusively to companies with best-in-industry corporate compliance programs, sending a clear signal to key stakeholders that their company takes compliance and ethics seriously.
“As a leading sustainable energy company that envisions a better future for all stakeholders, we at AVANGRID believe it is important not only to do the right thing, but also to do it in the right way. That means conducting ourselves ethically, transparently and in conformance with strong corporate governance rules,” said AVANGRID CEO Jim Torgerson. “Ethisphere’s Compliance Leader Verification certification recognizes our collective commitment to incorporate that approach into every business process at AVANGRID and its subsidiaries.”
AVANGRID is majority-owned by Iberdrola, S.A., which has itself been named among the world’s most ethical companies by the Ethisphere Institute for five consecutive years.
"The review team was impressed by the way in which the leadership team at AVANGRID has demonstrated a strong commitment to doing business the right way,” said Erica Salmon Byrne, Executive Vice President at Ethisphere. “The ethics and compliance program is well-structured and focused on being a strategic business partner and not an administrative hurdle to conducting business. They've consistently demonstrated the immense value-add that a first-class ethics and compliance function can be for an organization."
Through the Compliance Leader Verification process, the Ethisphere Institute’s researchers and analysts conduct a detailed review of the organization’s compliance and ethics-related initiative, and benchmark them against their World’s Most Ethical Companies® dataset for corporate and industry best practices, including:
- 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 Perceptions of the Compliance Environment
More information about Compliance Leader Verification is available at https://ethisphere.com/what-we-do/program-assessments/.
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