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AVANGRID Recognized Among World’s Most Sustainable Companies in S&P Global Sustainability Yearbook
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ORANGE, Conn.--(BUSINESS WIRE)--
AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, has been named to the 2022 Sustainability Yearbook, S&P Global’s annual and comprehensive listing of the world’s most sustainable companies. This is the company’s second consecutive year appearing on the prestigious list.
“Sustainability is in our DNA and this recognition is a testament to our team’s dedication and our forward-looking ESG+F strategy,” said Dennis V. Arriola, CEO of AVANGRID. “We believe in doing business in a better and balanced way—creating long-term, sustainable value for all the stakeholders we serve—by investing in clean energy technologies, building an engaged, vibrant workforce, and operating with the highest degree of ethics and purpose.”
To be included in the Yearbook, companies must be in the top 15% of their industry and achieve an S&P Global ESG score that is within 30% of the best in their sector. AVANGRID earned an overall ESG score of 76 out of 100, improving on its rating of 72 out of 100 in 2020. The company, on average, earned a score 42 points higher than the electric utility industry average score in the environmental, social and governance categories.
The 2022 edition of the Yearbook is the result of the analysis of 61 different industries and a detailed assessment of more than 7,500 companies, for which more than 13 million data points were collected. The results of this assessment help investors identify companies that are successfully addressing the opportunities and risks of the global sustainability challenge.
“As one of the cleanest energy companies in the United States, AVANGRID continuously demonstrates that a better business helps build a better society,” said Zsoka McDonald, chief sustainability officer and senior vice president, corporate communications at AVANGRID. “From becoming the first U.S. utility to set a carbon neutrality goal in 2017 to breaking ground in 2021 on America’s first commercial-scale offshore wind farm, Vineyard Wind, we remain squarely focused on building a cleaner, more sustainable energy future for all.”
AVANGRID’s sustainability strategy is organized into five key areas of focus:
Reducing the company’s carbon footprint;
Conscious action on social investment;
Creating a more sustainable and diverse supply chain;
Investing in its people; and
Operating with the highest ethical and governance standards.
Manjit Jus, managing director, global head of ESG research S&P Global: “We congratulate AVANGRID on inclusion in The Sustainability Yearbook 2022. Over 7,000 companies were assessed, and this distinction highlights dedication to sustainable business practices.”
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
