AVANGRID's ESG+F Progress & Climate Commitment

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by KnowESG
KnowESG_ESG investing
Image courtesy of AVANGRID

AVANGRID, Inc., a sustainable energy leader and member of the Iberdrola Group, has released its 2022 Sustainability Report titled "Investing in a Clean Energy Future for All."

The report reveals that AVANGRID has achieved or exceeded 85% of its 2022 Environmental, Social, Governance, and Financial Stewardship (ESG+F) goals and is on track to meet its ambitious long-term ESG+F targets, including its industry-leading 2030 carbon neutrality and emissions-free capacity goals.

AVANGRID's 2022 Sustainability Report highlights its progress towards ESG+F commitments, such as Scopes 1 and 2 carbon neutrality by 2030, a 190% increase in emissions-free installed capacity compared to 2015 by 2030, $300 million in supplier diversity spend by 2025, and 35,000 employee volunteer hours by 2025.

AVANGRID's achievements in 2022, as highlighted in the report, including 8.7 GW installed emissions-free capacity, surpassing its aspirational goal of 35% women in executive positions three years ahead of schedule, a 28% reduction in CO2 emissions intensity compared to 2015, sustained leadership in green, social, and sustainability bonds issuance in the U.S., exceeding its employee volunteer hours goal, spending $195 million with diverse suppliers and maintaining sustainability standards with 67% of suppliers, cybersecurity training accomplishments, and recognition as one of the World's Most Ethical Companies by Ethisphere for the fifth consecutive year.

AVANGRID's Vice President of Sustainability, Laney Brown, emphasises the company's commitment to taking action and making progress on its ESG+F goals, stating that clean energy is not only beneficial for the environment and society but also an opportunity to create jobs and make strategic investments in communities.

The full list of AVANGRID's ESG+F goals and achievements in 2022 can be found in the 2022 Sustainability Report, accessible here.

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