Compliance

Corporate Governance and Regulatory Policies

The Avangrid Renewables Compliance and Ethics Program serves as a resource for establishing a culture of high ethical standards and compliance with applicable laws and regulations. The Program is administered by the Company’s Compliance and Ethics Division, and is based on the criteria for an effective compliance program established under Chapter 8 of the U.S. Federal Sentencing Guidelines. Central to the Program is a focus on continuous improvement and adoption of industry best practices. The following are examples of key components of the Program:

 

Avangrid Renewables Code of Business Conduct and Ethics

The Company’s Board of Managers has adopted a Code of Business Conduct and Ethics (The “Code”) that is applicable to all Avangrid Renewables directors, officers, and employees. The Code describes the Company’s core values, such as Corporate Ethics and Responsibility, Respect for the Environment, Safety and Reliability, and Customer Focus. Consistent with these values, the Code establishes standards of conduct and provides guidance for employees to make appropriate decisions when faced with issues of an ethical nature. 

 

Annual Ethics Training

Employees are trained annually on the Code of Business Conduct and Ethics. The training focuses on key areas of ethics and compliance and scenarios that implicate the Code and reinforces the Company’s commitment to ethics and compliance with applicable laws and regulations. Completion rates for this training have historically achieved near 100% through a commitment of the Company’s leadership and employees. This training is supplemented by additional trainings for certain employee groups that face particular areas of compliance risk in their operations.

 

Communications Program

Through a collaboration of the Company’s Corporate Communications and Compliance groups, employees receive regular communications intended to provide guidance and raise awareness on common ethics and compliance issues faced in the workplace.

 

Helpline

Avangrid Renewables has established a 24/7 Helpline available to employees, contractors, consultants, and suppliers. The Helpline is used both to seek guidance on ethics and compliance-related matters, and also to report situations that may require investigation, such as questionable accounting or auditing practices, unprofessional behavior, and potential violations of laws or company policies. Callers are given the option of reporting through the Helpline anonymously. Avangrid Renewables strictly prohibits retaliation against employees who in good faith report ethics and compliance concerns.

 

Compliance Risk Assessments

The Company regularly conducts risk assessments of its business operations that involve important compliance-related activities. These assessments help the Company identify key areas of risk, ensure that internal controls have been implemented for compliance, and focus compliance resources in a risk-based manner.

 

Additional Activities

Avangrid Renewables is committed to ethics and compliance, good governance, and transparency in its activities. Additional information on the Company’s Compliance and Ethics Program is available in annual reports of activities published by the Company’s Chief Compliance Officer:

 

Compliance Policies

The Compliance Policies include the code, regulations, and procedures establishing the Company's compliance system.

The following links provide access to the full text of the Compliance Policies in effect: Approved by the Board of Managers of Avangrid Renewables, LLC on November 7,2018.

 

FERC and CFTC Compliance

Supplementing the ethical compliance program, Avangrid Renewables also has a FERC and CFTC compliance office. This Office is an independent internal area reporting to the Board of Managers of the Company with accountability to manager the area of FERC and CFTC compliance for the purpose of the prevention and correction of any issues, such as perceived or actual misconduct, as defined by FERC and CFTC law. In compliance with its Price Reporting Code of Conduct, Avangrid Renewables publishes its Price Reporting Code of Conduct which can be found here: Price Reporting Code of Conduct.