Press Releases
03/11/2025
Avangrid Recognized as One of the World’s Most Ethical Companies® for the 7th Consecutive Year
Avangrid Recognized as One of the World’s Most Ethical Companies® for the 7th Consecutive Year
Annual recognition honors organizations committed to business integrity through robust ethics, compliance, and governance programs
ORANGE, Conn. — March 11, 2025 — Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced its recognition by Ethisphere for the seventh consecutive year as one of the World’s Most Ethical Companies®. Ethisphere is a global leader in defining and advancing the standards of ethical business practices. In 2025, Ethisphere recognized 136 honorees from 19 countries and 44 industries. Avangrid was one of only seven honorees in the Energy and Utilities industry.
“Avangrid is committed to a code of ethics which serves as the foundation for how we do business,” said Pedro Azagra, Avangrid CEO. “We are proud to once again have earned this recognition as one of the World’s Most Ethical Companies. For seven consecutive years, Avangrid and Iberdrola have demonstrated our commitment to operating with the highest ethical standards. We will continue to uphold these principles as industry leaders in driving positive change in the global business community.”
Avangrid’s recognition on the list of the World’s Most Ethical Companies® exemplifies the Company’s commitment to its ethics and compliance program. In 2024, Avangrid Compliance completed over 800 third-party vendor screenings, answered 205 requests for guidance, and registered over 11,000 ethics and compliance training hours. Earlier this year, Avangrid was awarded for the fourth consecutive term, the two-year Compliance Leader Verification from Ethisphere for 2025 – 2026. These program highlights represent leading practices that make up Avangrid’s best-in-class compliance program.
“Congratulations to Avangrid for achieving recognition as one of the World’s Most Ethical Companies®. Behind this honor is a true dedication and a commitment to advancing business integrity. This approach is good for business – employees and other stakeholders value companies that prioritize the kinds of practices we measure with our process,” said Erica Salmon Byrne, Ethisphere’s Chief Strategy Officer and Executive Chair.
The listed 2025 World’s Most Ethical Companies® Honorees outperformed a comparable index of global companies by 7.8 percentage points from January 2020 to January 2025.
To view the full list of this year’s honorees, please visit the World’s Most Ethical Companies website, at https://worldsmostethicalcompanies.com/honorees.
Methodology & Scoring
The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient®, which requires companies to provide 240+ different proof points on practices that support robust ethics and compliance; governance; a culture of ethics; environmental and social impact; and initiatives that support a strong value chain. The data undergo further qualitative analysis by our 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 best-in-class ethics and compliance practices from organizations across industries and from around the world.
About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine and Oregon, including operations in 24 states with approximately $47 billion in assets, and 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 and in 2024. Through its renewables business, Avangrid owns and operates more than 75 energy generation facilities across the United States producing over 9GW of power for over 2.2 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens in 2025 for the fifth consecutive year. The company 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 Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
