Modivcare Releases 2023 Sustainability Report Highlighting Responsible Business Practices and Advancements in Environmental Management

Rhea-AI Summary

Modivcare (Nasdaq: MODV), a healthcare services company, released its 2023 Sustainability Report. This report highlights the company's commitment to responsible business practices, member support, team inclusivity, and environmental management. Key achievements include a 12% and 11% year-over-year decrease in Scope 1 and Scope 2 emissions, respectively. The report also mentions expanded disclosures, including Scope 3 emissions, and various initiatives promoting diversity, equity, and inclusion. CEO L. Heath Sampson emphasized the company's dedication to integrating sustainability with their corporate strategy and improving health outcomes.

Positive

• 12% decrease in Scope 1 greenhouse gas emissions year-over-year.
• 11% decrease in Scope 2 greenhouse gas emissions year-over-year.
• First-time disclosure of Scope 3 emissions.
• Initiatives promoting diversity, equity, and inclusion, such as employee resource groups and mentorship programs.
• Transparency and accountability enhancements in sustainability initiatives.
• Commitment to providing high-quality care and improving health outcomes for vulnerable populations.

Negative

• The report does not provide specific financial data or quantify cost savings from sustainability initiatives.
• No detailed information on the impact of sustainability efforts on profitability or stock performance.
• Lack of clarity on long-term goals or specific targets for future sustainability progress.

DENVER--(BUSINESS WIRE)-- Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company released its 2023 Sustainability Report. The annual report provides an update regarding Modivcare’s sustainability framework, which is underpinned in four key areas: responsible business practices, member support, our team, and environmental management.

“Our 2023 Sustainability Report showcases our dedication to integrating sustainability in our business strategy while upholding responsible corporate citizenship,” said L. Heath Sampson, President and Chief Executive Officer of Modivcare. “We are further enhancing transparency and accountability for our sustainability initiatives, ensuring alignment with our corporate strategy and focus on the social determinants of health. Our team remains committed to providing high-quality supportive care services and enabling greater access to care for our members. Modivcare continues to foster an environment that celebrates the diversity and differences among our team members while promoting inclusivity. I am proud of the significant progress we have achieved in enhancing our disclosures as we continue to improve our sustainability efforts.”

Highlights from Modivcare’s 2023 Sustainability report:

• Responsible Business Practices: We remain committed to upholding ethical business conduct across our operations while adhering to regulatory requirements, safeguarding the interests of our stakeholders and corporate reputation, and enhancing our risk management practices, all of which aligns with our corporate strategy.
• Member Support: The support for our members underscores the social impact of our team and mission, while also highlighting our dedication to providing high-quality care and services to our clients and diverse members. We are committed to providing supportive care services and enabling greater access to care to vulnerable populations while helping to reduce costs and improve health outcomes.
• Our Team: We take pride in showcasing our advancements in social responsibility, including our commitment to diversity, equity, inclusion, and belonging, as well as our contributions to community development, engagement, and philanthropic endeavors. Initiatives, such as employee resource groups, mentorship programs, and diversity training help create an inclusive environment for our team members.
• Environmental Management: We are dedicated to environmental stewardship, driven by our initiatives to reduce carbon emissions, minimize waste generation, and promote resource conservation. During 2023, Modivcare’s Scope 1 and Scope 2 location-based and market-based greenhouse gas emissions decreased 12% and 11% year-over-year, respectively. 2023 was also the first year the Company disclosed Scope 3 emissions for certain categories.

Modivcare’s 2023 Sustainability Report can be found on the Company’s Investor Relations website on the governance documents page, which can be accessed by clicking this link.

About Modivcare

Modivcare Inc. (Nasdaq: MODV) is a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions for public and private payors and their members. Our value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. We are a leading provider of non-emergency medical transportation (NEMT), personal care and remote patient monitoring. To learn more about Modivcare, please visit www.modivcare.com.

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Source: Modivcare Inc.

FAQ

What are the key highlights of Modivcare's 2023 Sustainability Report?

Modivcare's 2023 Sustainability Report highlights a 12% reduction in Scope 1 emissions, an 11% reduction in Scope 2 emissions, and the first-time disclosure of Scope 3 emissions. The report also emphasizes their commitment to diversity, equity, and inclusion.

How did Modivcare perform in terms of greenhouse gas emissions in 2023?

In 2023, Modivcare reduced its Scope 1 greenhouse gas emissions by 12% and Scope 2 emissions by 11% year-over-year.

What new disclosures were included in Modivcare's 2023 Sustainability Report?

The 2023 Sustainability Report includes the first-time disclosure of Scope 3 emissions for certain categories.

What initiatives did Modivcare take to promote diversity and inclusion in 2023?

Modivcare promoted diversity and inclusion through employee resource groups, mentorship programs, and diversity training initiatives.

What is Modivcare's approach to environmental management in 2023?

Modivcare focuses on reducing carbon emissions, minimizing waste, and promoting resource conservation. They achieved significant reductions in Scope 1 and Scope 2 emissions.