AVANGRID Selected for Inclusion in the S&P Global Clean Energy Index

Rhea-AI Summary

AVANGRID (NYSE: AGR) has been selected for the S&P Global Clean Energy Index, showcasing its commitment to renewable energy and sustainability. This Index tracks up to 100 companies worldwide that produce energy from clean sources. CEO Dennis Arriola highlighted the significance of this inclusion, reflecting AVANGRID's ESG+F strategy. The company aims to enhance its renewable capacity by over 100% by 2025, cut greenhouse gas emissions by 35%, and increase diversity in its supply chain and workforce.

Positive

• Selected for the S&P Global Clean Energy Index, enhancing market visibility.
• Commitment to increase renewable capacity by over 100% by 2025.
• Aim to reduce greenhouse gas emissions intensity by 35% by 2025.

Negative

• None.

Index tracks clean energy companies that produce energy from wind, solar, hydro, and other renewable sources

ORANGE, Conn.--(BUSINESS WIRE)-- AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced today that it has been chosen to be a part of the S&P Global Clean Energy Index, which includes up to 100 clean energy-related companies worldwide. The Index aims to track companies from both developed and emerging markets that produce energy from wind, solar, hydro, and other renewable sources, as well as companies that build and provide clean technology.

“We are honored to be included in the S&P Clean Energy Index as it further affirms and recognizes our ESG+F strategy,” said CEO of AVANGRID Dennis Arriola. “AVANGRID is focused on being clean and connected - we see this as a better and balanced way to do business – doing well by doing good for our customers, employees, communities and shareholders.”

As one of the cleanest U.S. utilities and a leader in renewable energy, AVANGRID has committed to the following ESG+F goals:

• Increasing renewable installed capacity by more than 100 percent by 2025 versus 2015.
• Decreasing Greenhouse Gas emissions intensity from owned or controlled sources (Scope 1) by 35 percent by 2025 versus 2015.
• Reducing CO2 emissions by 25% in owned fleet through investments in charging stations and by converting 60 percent of fleet to cleaner energy by 2030 (100% for light duty).
• Reaching 35,000 volunteer hours a year as an AVANGRID community by 2025.
• Increasing annual Supplier Diversity spend to $300 million dollars by 2025 and to have more than half of the company’s strategic suppliers certified as sustainable by 2022.
• Having at least 50% of senior operating roles held by women by 2030.

Click here for more about the S&P Global Clean Energy Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021006003/en/

Media:

Adam Gaber, 917.224.6176 or

adam.gaber@avangrid.com

Analysts:

Patricia Cosgel, 203.499.2624 or

Patricia.Cosgel@Avangrid.com

Source: AVANGRID, Inc.

FAQ

What is the significance of AVANGRID's inclusion in the S&P Global Clean Energy Index?

AVANGRID's inclusion in the S&P Global Clean Energy Index demonstrates its leadership in renewable energy and sustainability, enhancing its visibility and reputation in the clean energy sector.

What are AVANGRID's goals related to renewable energy by 2025?

AVANGRID aims to increase its renewable installed capacity by over 100% compared to 2015 levels by the year 2025.

How much does AVANGRID plan to spend on Supplier Diversity by 2025?

AVANGRID plans to increase its annual Supplier Diversity spend to $300 million by the year 2025.

What greenhouse gas emissions reduction goal has AVANGRID set for 2025?

AVANGRID aims to decrease its greenhouse gas emissions intensity from owned or controlled sources by 35% by 2025 compared to 2015.