AVANGRID Listed Among World’s Most Ethical Companies in 2020 for Second Consecutive Year by Ethisphere
ORANGE, Conn. — March 4, 2020 — AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, has again been recognized by Ethisphere as one of the 2020 World’s Most Ethical Companies.
The announcement marks the second consecutive year that AVANGRID has earned the designation from Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
AVANGRID is one of only nine honorees in the Energy and Utilities sector in 2020. A total of 132 honorees were recognized spanning 21 countries and 51 industries.
“AVANGRID’s commitment to corporate ethics is core to our identity and it is reflected in every aspect of our business. Being recognized by Ethisphere as one of the World’s Most Ethical Companies demonstrates that we have internalized this commitment as an organization. I’m proud of our employees for making ethics central to their daily work,” said AVANGRID Chief Executive Officer Jim Torgerson.
“AVANGRID has worked hard to establish a reputation for corporate ethics and good governance,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “This is a purpose-driven organization with a clear vision for promoting healthier, more sustainable communities. Congratulations to everyone at AVANGRID for earning this recognition.”
Ethics & Performance
Ethisphere’s research supports the conclusion that ethics and financial performance go hand-in-hand. Its annual practice of tracking how the stock prices of publicly traded honorees compare to the Large Cap Index found that listed 2020 World’s Most Ethical Companies outperformed the large cap sector over five years by 13.5 percent. This “Ethics Premium” forms the basis upon which companies can correlate responsible behavior with shareholder value.
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honorees will be released in a report and webcast in March and April of this year.
All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programs stand against the demanding standards of leading companies.
The full list of the 2020 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
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