GlobalData offers a comprehensive analysis of Avangrid, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Avangrid‘s ESG performance. GlobalData’s company profile on Avangrid offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Avangrid, a sustainable energy company, has a new Net Zero strategy that centers on attaining carbon neutrality for Scopes 1 and 2 emissions by the year 2030. Avangrid's latest filings mentioned the keywords 'Climate Change' and 'Emissions' most number of times in relation to 'Net Zero'. In 2022, the company reported 1,375 thousand mtCO2 emissions under scope 1, 225 thousand mtCO2 emissions under scope 2, and 10,546 thousand mtCO2 emissions under scope 3.
Avangrid is taking steps to reduce emissions and achieve its net-zero targets. The company has invested in programs, products, and services to reduce energy usage and help customers increase energy efficiency. Avangrid has also taken steps to increase supplier diversity and sustainability. It has allocated net proceeds to projects related to energy efficiency, LED street lighting, and climate change adaptation.
Avangrid is dedicated to addressing the demand for clean energy and green electrification by increasing emissions-free installed capacity by 190% by 2030 compared to 2015, backed by a $4.3 billion investment in renewables through 2025. Additionally, the company aims to reduce greenhouse gas emissions intensity from energy generation sources by 35% by 2025 and a 70% by 2030, both relative to 2015 levels.
In conclusion, Avangrid's strong commitment to sustainability is evident through its new Net Zero strategy, aiming to achieve carbon neutrality for Scopes 1 and 2 emissions by 2030. By actively reducing emissions and investing in energy-efficient initiatives, the company is making progress towards a more sustainable future.
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