Avangrid Targets Carbon Neutrality with New Renewable Power Objectives

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Pedro Azagra

AVANGRID Inc., a sustainable energy firm and member of the group of firms managed by Iberdrola S.A., is furthering its setting, social and governance (ESG) commitments by increasing its carbon neutrality targets. The firm is now focusing on to achieve carbon neutrality in scopes 1 and a pair of by 2030 and is creating a method to handle scope 3 emissions.

“As one of America’s most sustainable energy companies, our commitment to our ESG+F principles serves as the backbone of our business and puts us in the right place to address the need for more clean energy,” says Pedro Azagra, CEO of AVANGRID. “We also benefit from the expertise of the Iberdrola Group, who is a global leader in ESG and whose targets have been verified by SBTi, and we are following in their footsteps.”

“Our sustainability goals have continued to evolve since 2017, when we became the first U.S. utility to commit to carbon-neutral goals and set our target to reach generation carbon neutrality by 2035,” provides Azagra. “We’ve strengthened our emissions goals and social commitments, laid the groundwork to transition our fleet to cleaner energy vehicles, committed to increasing our purchases with diverse suppliers and more. We not only continue to evolve and accelerate our commitments, but also have innovative initiatives underway to meet our goals.”

AVANGRID’s Net Zero Strategy displays its robust dedication to carbon neutrality and assist for the energy transition. In line with its current announcement, the corporate’s fast focus is on decreasing emissions from scopes 1 and a pair of. Scope 1 emissions embrace all direct greenhouse emissions from sources which might be owned or managed by AVANGRID, together with power era services, workplaces and different services, and fleet automobiles. Scope 2 emissions embrace oblique greenhouse emissions related to the era of bought energy consumed by the AVANGRID.

To attain carbon neutrality in scopes 1 and a pair of by 2030, AVANGRID plans to extend renewable put in capability by 190% by 2030 versus 2015, supported by investing $1.8 billion in its renewables enterprise by means of 2025. In addition, AVANGRID is exploring new know-how options similar to hydrogen and storage (scope 1).

It will inexperienced its buildings by committing to 100% renewable energy in its company buildings by 2030 (scope 2). In addition, the corporate will convert 100% % of its mild obligation automobiles to cleaner energy by 2030 (scope 1).

“AVANGRID has and continues to demonstrate leadership in all aspects of ESG,” feedback Laney Brown, vice chairman of sustainability at AVANGRID. “We analyzed a select number of our ESG goals against our peer’s, and the breadth and depth of our ESG commitments in comparison demonstrates our ESG leadership and reflects our unique ESG position. We are demonstrating that clean energy is not just a beneficial outcome for the environment and society, but an opportunity to help people and communities participate in the clean energy transition through new jobs, and for leading companies like ours to make critical and strategic investments.”

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