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June 6, 2022, 11:42 a.m. EDT

AVANGRID Launches 2021 Sustainability Report: “Accelerating Transformation”

Company reaffirms commitment to building a clean energy future with renewable, sustainable power and a more resilient and reliable energy grid

ORANGE, Conn., (BUSINESS WIRE) -- AVANGRID, Inc. /zigman2/quotes/201653155/composite AGR -1.47% , a leading sustainable energy company, today released its 2021 Sustainability Report , titled “Accelerating Transformation.” The report tracks and highlights AVANGRID’s sustainability results towards its environmental, social, governance and financial stewardship – or ESG+F – commitments and how these actions are creating a clean energy future.

“We take great pride in our ESG+F leadership and it is a part of everything we do,” said Laney Brown, Vice President of Sustainability at AVANGRID. “This report reflects the culmination of our sustainability efforts and leadership during 2021, our continued work to accelerate the transition to a clean energy future and our push to achieve our company’s bold and visionary climate and social impact goals. We’re proud of what we accomplished in 2021 and will continue to evolve and accelerate our commitments.”

Among the 2021 achievements highlighted in the report:

  • Avangrid Networks invested $2.2 billion to build a more reliable, resilient energy system that will support the clean energy future.

  • AVANGRID invested more than $90 million in innovation projects, such as its substation automation program, grid analytics big data roadmap and robotic process automations for customer service.

  • Avangrid Renewables began construction on Vineyard Wind 1, the first commercial-scale offshore wind project in the U.S., which will be built with union labor.

  • Avangrid Renewables was awarded the largest offshore wind project in New England – Commonwealth Wind – which, upon completion, will deliver 1.23 GW of clean capacity to customers.

  • AVANGRID established a new sustainability organization led by the company’s new Chief Sustainability Officer, who reports to the CEO.

  • The company expanded several programs to support employees and their families, including new Paid Parental Leave Policy, mental health resources and fertility and family-forming care and coverage.

  • AVANGRID was once again recognized by JUST Capital on its 2021 JUST 100 List, a list of America’s best corporate citizens, and by Ethisphere as one of the 2021 World’s Most Ethical Companies.

In addition to highlighting the company’s 2021 achievements, the Sustainability Report outlines AVANGRID’s ESG goals, which include achieving scope 1 carbon neutrality by 2035, increasing installed renewable energy capacity by 100% by 2025 (compared to 2015), achieving full gender parity for women in senior leadership roles by 2030 and reaching 35,000 employee volunteer hours in 2025.

AVANGRID is among the cleanest U.S. energy companies and is the third largest wind and solar operator in the county. Earlier this year, it was one of the first energy companies to accept the U.S. Department of Energy’s Better Climate Challenge to reduce scope 1 and 2 greenhouse gas emissions by at least 50% in 10 years.

About AVANGRID: AVANGRID, Inc. /zigman2/quotes/201653155/composite AGR -1.47% aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 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 more than 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 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20220606005810/en/

SOURCE: AVANGRID, Inc.

MEDIA:
Sarah Warren
sarah.warren@avangrid.com
585-794-9253

COMTEX_408286235/2456/2022-06-06T11:42:06

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Copyright Business Wire 2022

/zigman2/quotes/201653155/composite
US : U.S.: NYSE
$ 41.70
-0.62 -1.47%
Volume: 1.04M
Sept. 30, 2022 4:00p
P/E Ratio
17.87
Dividend Yield
4.22%
Market Cap
$16.12 billion
Rev. per Employee
$1.11M
loading...
/zigman2/quotes/201653155/composite
US : U.S.: NYSE
$ 41.70
-0.62 -1.47%
Volume: 1.04M
Sept. 30, 2022 4:00p
P/E Ratio
17.87
Dividend Yield
4.22%
Market Cap
$16.12 billion
Rev. per Employee
$1.11M
loading...

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