AVANGRID, Inc. (NYSE: AGR), a leading diversified energy company, has been recognized as one of the World’s Most Ethical Companies for 2019 by the Ethisphere Institute, a global thought leader in defining and advancing standards for ethical business practices.
“This recognition by the Ethisphere Institute validates our commitment to the highest standards of safety, ethics and corporate governance in everything we do. This steadfast principle guides our focus on customers, colleagues, regulators and shareholders, as well as our impact on the environment and our communities,” said AVANGRID CEO Jim Torgerson.
“Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform, but last,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “I congratulate everyone at AVANGRID for earning this recognition.”
AVANGRID is a leader in the transformation to a competitive clean energy future, with firm commitments to safeguarding the environment, reducing our generation carbon footprint, growing as a sustainable company, and providing safe, affordable and reliable energy to our customers.
This is the first time AVANGRID has been recognized for this prestigious honor, and the company is one of only six honorees in the “Energy and Utilities” category. The Ethisphere Institute began compiling this ranking in 2007, with the purpose of acknowledging the role of companies dedicated to promoting ethical culture in the global corporate community.
For 2019, 128 honorees were recognized by Ethisphere, spanning 21 countries and 50 industries. This thirteenth class of honorees profoundly illustrates how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2019 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with $32 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 eight electric and natural gas utilities, serving 3.2 million customers in New York and New England. Avangrid Renewables owns and operates 7.1 gigawatts of electricity capacity, primarily through wind power, with a presence in 22 states across the United States. AVANGRID employs approximately 6,500 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was awarded Compliance Leader Verification by Ethisphere, a prestigious third party verification of its ethics and compliance program. For more information, visit www.avangrid.com.
About the Ethisphere Institute:
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.