Avangrid Achieves Global Recognition for Sustainability Progress in FTSE4Good Index

Rhea-AI Summary

Avangrid (NYSE: AGR) has been included in the FTSE4Good Index Series for the seventh consecutive year, recognizing its strong sustainability practices. The company ranked well above the utility industry average in environmental, social, and governance (ESG) themes.

Key highlights:

• Avangrid scored highest in labor standards and governance
• Rated 30% higher overall and 25% higher in environmental areas compared to U.S. peers
• CEO Pedro Azagra emphasized the company's commitment to climate action and clean energy transition
• Avangrid has received multiple sustainability recognitions in 2023, including placement on Barron's 100 Most Sustainable Companies list

The FTSE4Good Index, created by FTSE Russell, measures company performance in ESG practices and is widely used by market participants for responsible investment decisions.

Ranks well above the utility industry average in environment, social and governance themes

ORANGE, Conn.--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, has announced it has once again been included in the global FTSE4Good Index Series, which measures the performance of companies demonstrating strong sustainability practices. This is Avangrid’s seventh consecutive year as a member of the Index and Iberdrola has been ranked on it since 2009.

“I am pleased with Avangrid’s inclusion in the FTSE4Good Index for the seventh year in a row,” said Pedro Azagra, Avangrid CEO. “Climate change is an unprecedented global challenge. At Avangrid, our climate action strategy is informed by the leadership of the Iberdrola Group, who have been leading the transition to clean energy for more than two decades. Our commitments as a leader in the clean energy transition are continuing to evolve, and they reflect our dedication to serving the needs of our customers and communities today, while helping to ensure the well-being of generations to come.”

Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong environmental, social and governance (ESG) practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products. FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria.

In its most recent evaluation, Avangrid rated on the Index well above the utility industry average in all FTSE Russell’s categories. The company earned FTSE’s highest score for labor standards and for governance, which includes evaluation of risk management, corporate governance and anti-corruption. Furthermore, compared with its U.S. peers, Avangrid was rated more than 30% higher overall and more than 25% higher in environmental areas such as climate change and pollution and resources.

In addition to being included on the FTSE4Good Index Series, Avangrid has earned numerous sustainability recognitions this year, including being named among Barron’s 100 Most Sustainable Companies, being recognized by JUST Capital as the top ranking utility on the 2024 JUST 100, and being named among the World’s Most Ethical Companies by Ethisphere for the sixth year in a row.

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $45 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 as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2024 for the fourth consecutive year. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240802298653/en/

Media:

Sarah Warren

sarah.warren@avangrid.com

585-794-9253

Source: AVANGRID, Inc.

FAQ

How many consecutive years has Avangrid (AGR) been included in the FTSE4Good Index Series?

Avangrid (AGR) has been included in the FTSE4Good Index Series for seven consecutive years.

What areas did Avangrid (AGR) score highest in according to the FTSE4Good Index evaluation?

Avangrid (AGR) scored highest in labor standards and governance according to the FTSE4Good Index evaluation.

How does Avangrid (AGR) compare to its U.S. peers in the FTSE4Good Index ratings?

Avangrid (AGR) was rated more than 30% higher overall and more than 25% higher in environmental areas compared to its U.S. peers in the FTSE4Good Index ratings.

What other sustainability recognitions has Avangrid (AGR) received in 2023?

In 2023, Avangrid (AGR) was named among Barron's 100 Most Sustainable Companies, recognized as the top-ranking utility on the 2024 JUST 100 by JUST Capital, and named among the World's Most Ethical Companies by Ethisphere for the sixth year in a row.

What is Avangrid's (AGR) approach to climate change according to CEO Pedro Azagra?

According to CEO Pedro Azagra, Avangrid's (AGR) climate action strategy is informed by the Iberdrola Group's leadership in the clean energy transition, with a commitment to serving current customer and community needs while ensuring the well-being of future generations.