Better Health for All

AES's core business includes coal-fired power generation, which has severe negative health impacts. In 2023, under 30% of its generation was from coal

, a source linked to chronic diseases like cancer and respiratory illnesses due to coal ash contamination of air, soil, and water in communities such as Guayama, Puerto Rico. In 2023, 18% of AES's operating margin was from coal. The company plans to exit the majority of its coal businesses by 2025 and all coal assets by 2027. AES had a contractor fatality in 2023. Its subsidiary, AES Puerto Rico, has "woefully failed to protect Puerto Ricans from its toxic waste" since 2002 , leading to coal ash contamination and a doubling of chronic diseases in nearby communities. AES subsidiaries have also incurred $356,505 in penalties across 14 safety-related offenses. AES Puerto Rico has no plans to actively clean up contaminated groundwater and lacked supporting data for its proposed cleanup. In 2024, EPA settlements mandated improved groundwater monitoring and enhanced public compliance reporting for AES Puerto Rico due to contamination concerns and Clean Air Act violations. Since 2007, AES's Magic Energy program in El Salvador has educated over 700,000 children in schools and communities on electricity safety.

Fair Money & Economic Opportunity

The AES Corporation is a global power generation and utility company, not a financial institution. The 'Fair Money & Economic Opportunity' value specifically assesses companies involved in lending, insuring, moving, or storing money. AES's core business does not include these financial services. Consequently, all KPIs related to financial products, pricing, fees, lending compliance, debt burden, financial literacy, and financial service access points are not applicable. While AES engages in community investments, such as over $2 million in the Indianapolis community in 2023

and $2.18 million in Ohio communities in 2023, and expands electricity access to rural and underserved communities (e.g., over 84,000 rural communities in El Salvador since 2009), these activities do not fall under the rubric's definition of financial inclusion or community finance.

Fair Pay & Worker Respect

Approximately 80% of eligible employees were covered by collective bargaining agreements as of the end of 2024.

The company's Total Recordable Incident Rate (TRIR) was 0.394 per 200,000 hours in 2020. Employee engagement assessments in 2024 showed an average satisfaction of 80% among 75% of participants. The voluntary employee turnover rate was 5.2% in 2020. The CEO to median employee pay ratio was 137:1.

Fair Trade & Ethical Sourcing

AES has been recognized for its ethical business practices, including being named one of the World's Most Ethical Companies by the Ethisphere Institute for ten consecutive years

and listed among the 100 Just Companies in the US by JUST Capital in 2023. The company maintains an Ethics & Compliance Program with a Code of Conduct and a comprehensive Supplier Code of Conduct, which includes pre-engagement due diligence and supplier evaluation using a STACE scorecard. AES has expressed opposition to forced labor in the solar supply chain, worked with SEIA to create industry standards, and assured there was no forced labor in its procurement from JinkoSolar. The company also has a supply chain process for real-time collaboration with suppliers and a recycling services agreement for solar panels. However, the provided articles do not contain specific quantitative data points required to score KPIs such as the percentage of fair-trade certified spend, supplier audit frequency, number of company-wide forced or child labor incidents, supply chain traceability coverage, remediation speed, ethical clause coverage in contracts, share of high-risk materials, or supplier diversity spend.

Honest & Fair Business

AES Corp will restate its financial results for the second and third quarters of 2024

due to an overstatement of impairment expenses totaling approximately $197 million. This decision was made on March 6, 2025 , and the company acknowledged a material weakness in its internal control over financial reporting in its 2024 Form 10-K. In regulatory matters, AES paid a $3.1 million civil penalty to the EPA in 2022 for environmental violations, including failure to comply with mercury emission limits and monitoring requirements. AES maintains a comprehensive Anti-Corruption Policy, effective January 23, 2015 , which strictly prohibits bribes and facilitation payments , commits to international anti-corruption laws like the FCPA , includes procedures for assessing third-party business partners , and involves regular training and frequent audits of its Ethics and Compliance Program.

Kind to Animals

AES demonstrates a strong commitment to wildlife conservation. The company launched a bison reintroduction program in Mexico, which resulted in a 50% herd growth in less than one year, significantly contributing to habitat restoration.

AES Colombia invested over $6 million to establish natural reserve areas for biodiversity conservation, including projects for bison reintroduction and sea turtle protection. AES has reforested over 300 hectares, with a target of 500 hectares by 2028, and its Brasil nursery produces 1 million seedlings annually. A jaguar protection program in Panama impacts approximately 600 hectares. AES Ohio implements wildlife protection practices, including bird-safe power system designs and nest relocation, complying with acts like the Migratory Bird Treaty Act. The company also manages biodiversity plans for 8 operational sites covering over 2,600 hectares. In terms of public policy engagement, AES Ohio is a member of the Avian Power Line Interaction Committee, partnering with the US Fish and Wildlife Service to promote research and implementation of bird-safe power system designs. As a power generation and utility company, animal testing is not applicable to its operations. While AES utilizes sheep grazing for vegetation management on over 12,000 acres across 55+ projects, specific ethical practices for these operations are not detailed.

No War, No Weapons

The AES Corporation primarily operates in utilities, focusing on power generation and renewables like wind and solar.

There is no evidence of the company's involvement in military contracts or arms manufacturing. Consequently, there are no defense-related assets to divest, no exposure to controversial or banned weapons, and no need for weapons-specific ethical red lines. The company emphasizes ethical procurement, and there is no evidence of procurement from conflict zones or involvement in defense procurement.

Planet-Friendly Business

In 2022, renewables constituted 46% of AES's production mix.

The company expanded its renewable energy portfolio by constructing 3.5 GW of renewable projects in 2023, including 1.6 GW of solar, 1.3 GW of wind, and 0.6 GW of energy storage. This expansion includes the acquisition of the 2 GW Bellefield solar-plus-storage project in California in June 2023 , and AES operates a 605 MW portfolio of solar and solar-plus-storage projects across 11 states.

Respect for Cultures & Communities

In 2005, AES constructed a hydroelectric dam on the Changuinola River, which led to the forced displacement of entire Ngöbe communities from their homes and farmlands, severely impacting their traditional way of life

. The company was criticized for failing to fulfill promised compensation plans for these affected communities . In 2011, Cultural Survival and other organizations confronted AES executives over these Indigenous rights and environmental violations . Later that year, Panama's National Public Service Authority revoked AES's permit for a second dam on the Changuinola River due to Indigenous rights concerns raised by local groups . This indicates a reactive response to cultural incidents after public pressure and a failure in Free, Prior, and Informed Consent processes for affected communities. In a more recent development, for its 2023 Chevelon Butte wind farm in Arizona, AES engaged local Indigenous groups and partnered with Solar Energy International to provide solar workforce training to Arizona residents .

Safe & Smart Tech

The provided article states that AES Corporation has implemented a comprehensive cybersecurity risk management program, which includes incident response protocols, adherence to NIST standards, and third-party risk management

. It also mentions that employee training focuses on cybersecurity awareness and that the Board of Directors oversees cybersecurity strategies . However, the article does not provide specific, quantifiable data points such as the frequency or scale of data breaches, percentage of employees trained, patching timeframes for vulnerabilities, or details on AI ethics governance, which are required to score any of the KPIs against the rubric's quantitative thresholds.

Zero Waste & Sustainable Products

AES has implemented waste reduction initiatives, including a partnership with SOLARCYCLE to recycle one million damaged or retired solar panels.

In Vietnam, the company launched an 'Environment Education and Integrated Waste Management' project, which raises awareness about waste classification and recycling. It provides organic waste recycling models to 50 households, and established an organic garden at Cam Hai School for practical STEM education.