ESG goals are the framework by which we deliver our results. Our sustainable business model and strategy – ESG+F – is structured around stewardship of the environment and society, driven by our governance and financial strength. As responsible investing continues to shape the market, it is widely understood that, at its core, the integration of environmental, social and governance (ESG) factors into business processes and decision-making not only benefits society, but also drives performance. At AVANGRID, we added financial stewardship – the F – to ESG because we believe that financial sustainability both promotes and is a result of an ESG-led strategy. We know we must also invest in the future today, using our ESG+F framework to help prioritize our investments in innovation, excellence and efficiency to benefit our customers, communities, employees and shareholders.
Key Points
We’ve taken the concept of sustainability to heart
AVANGRID released its 2020 Sustainability Report. The report tracks our sustainability performance across environmental, social, governance and financial performance. This ESG+F sustainability strategy is a better and balanced way to do business, benefitting our customers, employees, communities and shareholders.
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Our joint venture offshore wind project, Commonwealth Wind, has been selected as part of Massachusetts’ third offshore wind competitive procurement process. The 1,232 megawatt (MW) project, New England’s largest offshore wind project to date, will create 11,000 full time equivalent jobs over the project’s lifetime and generate enough energy to power 750,000 homes annually.
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