Avangrid Named Among America’s Climate Leaders by USA Today for Second Consecutive Year
May 30 2024 - 9:30AM
Business Wire
Highlights U.S. companies who have achieved the
greatest reduction in core emissions intensity between 2020 and
2022
Avangrid is one of the country’s cleanest
utilities with an emissions intensity over six times lower than the
U.S. power sector average
Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company
and member of the Iberdrola Group, announced today it has been
named on the USA Today’s list America’s Climate Leaders 2024. This
is Avangrid’s second consecutive year on this prestigious list,
which includes the top 450 companies across the United States that
have achieved the greatest reduction in their core emissions
(scopes 1 and 2) intensity between 2020 and 2022.
“Decarbonization requires not just bold commitment, but equally
resolute actions,” said Pedro Azagra, Avangrid CEO. “It's with
immense pride that we accept this accolade from USA Today once
more. Our consistent inclusion on this list is no surprise. As one
of the nation's leading clean utilities, Avangrid has long been at
the forefront of decarbonization efforts in partnership with
Iberdrola. Our ongoing commitments are a testament to our role as
pioneers in the clean energy transition. They are a reflection of
our unwavering commitment to meet the needs of our customers and
communities today, while laying the foundation for the prosperity
of future generations."
Avangrid has an industry-leading commitment to reach carbon
neutrality for scopes 1 and 2 emissions by 2030, which is aligned
with Iberdrola’s emissions goals that are certified by the
Science-Based Targets Initiative (SBTi). In addition to this
leading commitment, Avangrid has continued to maintain an emissions
intensity that is at least six times lower than the U.S. power
sector average since 2015.
Scope 1 emissions include all direct greenhouse emissions from
sources that are owned or controlled by Avangrid, including power
generation facilities, offices and other facilities, and fleet
vehicles. Scope 2 emissions include indirect greenhouse emissions
associated with the generation of purchased energy consumed by the
Avangrid.
In 2023, Avangrid’s efforts to reduce emissions included:
- Working to eliminate sulfur hexafluoride (SF6) emissions, the
most potent greenhouse gas, across its operations while supporting
manufacturers’ efforts to create SF6-free technologies.
- Reaching 8.8 gigawatts (GW) of emissions-free installed
capacity, a 51% growth since 2015.
- Investing more than $203 million in Leak-Prone Main Gas
Pipeline replacement to reduce fugitive emissions.
- Implementing more renewable electricity in corporate
buildings.
- Doubling the company’s number of sustainable fleet vehicles,
achieving more than 11% of the total light duty fleet.
- Installing 877 electric vehicle charging points across
Avangrid’s networks.
America’s Climate Leaders 2023 were selected based on two-step
process. First is the application and research phase. Companies
could be included on the list by applying online or by having the
necessary data publicly available. To be considered for the award,
a company must be headquartered in the United States, have a
revenue of at least $50 million, have independent emissions
reporting data on scopes 1 and 2, have a CDP rating of at least C
(if available), and have a positive broader environmental record.
The second step is the data analysis and scoring phase. For all
companies meeting the inclusion criteria, the year-over-year
reduction in emissions intensity (compound annual reduction rate)
was calculated.
In addition to this honor from USA Today, Avangrid’s
decarbonization actions and commitments have also earned the
company 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) aspires to be
the leading sustainable energy company in the United States.
Headquartered in Orange, CT with approximately $45 billion in
assets and operations in 24 U.S. states, Avangrid 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. Through its renewables business, Avangrid owns and
operates a portfolio of renewable energy generation facilities
across the United States. 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
2024 for the fourth consecutive year. In 2024, Avangrid ranked
first among utilities and 12 overall. The company supports the
U.N.’s Sustainable Development Goals and 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240530906027/en/
Media Contact: Sarah Warren sarah.warren@avangrid.com
585-794-9253
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