Avangrid Recognized as One of the World’s Most Ethical Companies for Sixth Year

March 04, 2024 at 09:30 AM EST

Annual recognition highlights organizations that have demonstrated a commitment to business integrity through robust ethics, compliance, and governance programs

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and a member of the Iberdrola Group, has been recognized for the sixth consecutive year as one of the World’s Most Ethical Companies year by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Avangrid is one of only eight honorees globally in the Energy and Utilities sector in 2024.

“Ethics are not just a set of rules, they are the moral compass that guides our decisions,” said Pedro Azagra, Avangrid CEO. “We’re incredibly proud to be one of the World’s Most Ethical Companies for the sixth year in a row. This recognition is a testament to the unwavering commitment of our entire Avangrid team and the Iberdrola Group to conduct business with the highest ethical standards. We will remain committed to upholding these principles and contributing positively to both our business and society.”

The 2024 World’s Most Ethical Companies list includes a total of 136 honorees spanning 20 countries and 44 industries. Avangrid’s continued presence on the list can be attributed to the company’s strong corporate governance and sustainability system, which is integral to Avangrid’s corporate purpose and comprehensive ESG+F strategy (environment, society, governance, and financial strength).

“Congratulations to Avangrid for earning their place among the World’s Most Ethical Companies for the sixth consecutive year,” said Erica Salmon Byrne, Ethisphere’s chief strategy officer and executive chair. “As Avangrid understands, being a good corporate citizen isn’t just about compliance; it’s about integrity, transparency, and accountability. Prioritizing ethical behavior not only gains the trust of stakeholders, but also creates a sustainable foundation for long-term success. We applaud Avangrid for their dedication to these values and for demonstrating that strong ethics is good business.”

Ethics & Performance

The listed 2024 World’s Most Ethical Companies® Honorees outperformed a comparable index of global companies by 12.3 percentage points from January 2019 to January 2024.

Methodology & Scoring

The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient®, an extensive questionnaire that requires companies to provide over 240 different proof points on their culture of ethics; environmental, social, and governance (ESG) practices; ethics and compliance program; diversity, equity, & inclusion; and initiatives that support a strong value chain. That data undergoes further qualitative analysis by Ethisphere's panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify truly best-in-class ethics and compliance practices from organizations across industries and from around the world.

Honorees

To view the full list of this year’s honorees, please visit the World’s Most Ethical Companies website, at https://worldsmostethicalcompanies.com/honorees.

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 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 in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. 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.

About Ethisphere: Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, deliver business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies build strong cultures of ethics and integrity. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also advances business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset reflecting the ethical business practices of 3+ million employees around the world; and the Ethics Quotient dataset, featuring 240+ data points on the ethics, compliance, social, and governance practices of the World’s Most Ethical Companies. For more information, visit https://ethisphere.com.