Modec Sustainability Profile
Modec, officially known as Modec, Inc., is a leading provider of innovative marine solutions headquartered in Japan. Established in 2004, the company has made significant strides in the offshore oil and gas industry, particularly in the design and construction of floating production storage and offloading (FPSO) units. With operational regions spanning Asia, Africa, and South America, Modec has positioned itself as a key player in the global market. The company’s core offerings include FPSOs, floating storage units, and other marine assets, distinguished by their advanced technology and commitment to safety and environmental sustainability. Modec's notable achievements include successful project completions in challenging environments, reinforcing its reputation for reliability and excellence. As a trusted partner in the energy sector, Modec continues to drive innovation and efficiency in offshore operations.
DitchCarbon Score
How does Modec's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Business Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Modec's score of 32 is higher than 57% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Modec's reported carbon emissions
In 2023, Modec reported total carbon emissions of approximately 5,618,385,000 kg CO2e. This figure includes Scope 2 emissions of about 1,467,000 kg CO2e (market-based) and 1,619,000 kg CO2e (location-based), alongside significant Scope 3 emissions totalling approximately 5,615,299,000 kg CO2e. The Scope 3 emissions breakdown reveals major contributions from downstream leased assets (about 5,298,344,000 kg CO2e) and purchased goods and services (approximately 269,670,000 kg CO2e). Comparatively, in 2022, Modec's total emissions were about 5,204,867,000 kg CO2e, with Scope 2 emissions at approximately 1,503,000 kg CO2e and Scope 3 emissions around 5,203,364,000 kg CO2e. The 2021 data shows a total of about 3,786,201,000 kg CO2e, with Scope 2 emissions of approximately 1,309,000 kg CO2e and Scope 3 emissions of about 3,784,892,000 kg CO2e. Despite the substantial emissions figures, Modec has not disclosed specific reduction targets or initiatives, nor does it appear to have cascaded data from a parent company. The absence of documented reduction targets suggests a need for enhanced climate commitments within the organisation. Modec's emissions data reflects its operational impact and highlights the importance of addressing carbon emissions in the industry.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - |
| Scope 2 | 1,721,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Modec's Industry?
How Carbon Intensive is Modec's Location?
Modec's Scope 3 Categories Breakdown
Modec's Scope 3 emissions, which increased by 8% last year and increased by approximately 48% since 2021, demonstrating supply chain emissions tracking. Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories, with "Downstream Leased Assets" being the largest emissions source at 94% of Scope 3 emissions.
Top Scope 3 Categories
Modec's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Modec has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
