Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company, proudly announced today its inclusion in USA Today’s “America’s Climate Leaders 2024” list.
This marks Avangrid’s second consecutive year achieving this prestigious recognition, reserved for the top 450 U.S. companies demonstrating the greatest reduction in core emissions intensity (scopes 1 and 2) between 2020 and 2022.
“Decarbonization demands bold commitments and resolute actions,” stated Pedro Azagra, Avangrid CEO. “We’re immensely proud to receive this accolade from USA Today once again. As a leading clean utility, Avangrid, in partnership with Iberdrola, has consistently spearheaded decarbonization efforts. Our ongoing commitment to a clean energy transition reflects our dedication to meeting the needs of our customers and communities today while securing a prosperous future for generations to come.”
Industry-Leading Commitment to Carbon Neutrality
Avangrid has committed to achieving carbon neutrality for scopes 1 and 2 emissions by 2030, aligning with Iberdrola’s emissions goals certified by the Science-Based Targets Initiative (SBTi). Furthermore, Avangrid has maintained an emissions intensity at least six times lower than the U.S. power sector average since 2015.
- Eliminating sulfur hexafluoride (SF6) emissions, the most potent greenhouse gas, while supporting SF6-free technology development.
- Reaching 8.8 gigawatts (GW) of emissions-free installed capacity, a 51% growth since 2015.
- Investing over $203 million in Leak-Prone Main Gas Pipeline replacement to reduce fugitive emissions.
- Implementing more renewable electricity in corporate buildings and doubling sustainable fleet vehicles.
- Installing 877 electric vehicle charging points across Avangrid’s networks.
America’s Climate Leaders Selection Process
The selection process for America’s Climate Leaders 2024 involved two steps:
- Application and research phase: Companies could apply or be included based on publicly available data. Inclusion criteria included U.S. headquarters, minimum $50 million revenue, independent emissions reporting, a CDP rating of at least C, and a positive environmental record.
- Data analysis and scoring phase: The year-over-year reduction in emissions intensity was calculated for eligible companies.
Additional Recognition
In addition to this honor from USA Today, Avangrid’s decarbonization efforts have also earned it a spot in Smart Electric Power Alliance’s 2030 Club and a number two ranking in the National Public Utilities Council’s 2023 Utility Decarbonization Report.
To view the full list of America’s Climate Leaders 2024, click here.
About Avangrid
Avangrid, Inc. (NYSE: AGR) is a leading sustainable energy company in the United States, aspiring to be the industry leader. Headquartered in Orange, CT, with approximately $44 billion in assets, Avangrid operates in 24 U.S. states. The company focuses on two primary business lines: * Networks: Owning and operating eight electric and natural gas utilities, serving over 3.3 million customers in New York and New England. Renewables: Owning and operating a diverse portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has received numerous recognitions for its commitment to sustainability and corporate responsibility. JUST Capital has named Avangrid one of America’s “JUST 100” companies for four consecutive years (2021-2024), with a top ranking among utilities and 12th overall in 2024. Avangrid also supports the U.N.’s Sustainable Development Goals and has been recognized as one of the World’s Most Ethical Companies by the Ethisphere Institute for six consecutive years (2019-2024).