Odyssey Marine Exploration, Inc..
OMEX.US | Support activities for other mining and quarrying
Odyssey Marine Exploration, Inc. is a deep-ocean exploration and technology company focused on the exploration, recovery, and conservation of deep-sea shipwrecks, particularly those containing valuable cargoes of precious metals. The company uses advanced robotic systems and remote sensing technolog...Show More
Better Health for All
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Odyssey Marine Exploration's core business of deep-ocean exploration and shipwreck recovery does not have a direct, quantifiable impact on health outcomes, leading to a neutral score for health impact. The company does not offer health-related products or services, making several KPIs such as price accessibility, vulnerable reach, and health innovation investment not applicable. While the company is involved in a joint venture for a domestic fertilizer supply in Mexico, which aims to enhance food security,
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this is a forward-looking statement about an aim, not an achieved health benefit. Similarly, discussions of potential negative health effects of seabed mining in general, such as impacts on food safety and security or acceleration of climate change,
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are not attributed to OMEX's specific operations or quantified as externalities of its business. No evidence is provided regarding the company's safety record, risk transparency for its own operations, or any health-related programs or initiatives.
Fair Money & Economic Opportunity
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No evidence available to assess Odyssey Marine Exploration, Inc. on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
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No specific, concrete data points were found across the provided articles to assess OMEX.US against any of the Fair Pay & Worker Respect KPIs. Information regarding living wage coverage, CEO to median pay ratio, collective bargaining share, safety incident rate, pay equity ratio, worker engagement score, turnover rate, labor violation incidents, insecure contract share, or health insurance coverage is not available.
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Fair Trade & Ethical Sourcing
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No evidence available to assess Odyssey Marine Exploration, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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No evidence available to assess Odyssey Marine Exploration, Inc. on Honest & Fair Business.
Kind to Animals
-60
Odyssey Marine Exploration's proposed phosphate mining project off Baja California Sur, Mexico, was rejected twice by Mexico's environmental agency (SEMARNAT) in 2016 and 2018 due to potential damage to marine life.
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The project area is a breeding ground for giant grey whales and home to endangered sea turtles, lobsters, octopus, abalone, bottlenose dolphins, and sea lions.
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The project threatened the region’s rich biodiversity. Mexico's recent mining law reforms now prohibit seabed mining.
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Odyssey sued Mexico for $3.54 billion (later reduced to $2.36 billion) under NAFTA, claiming the rejection was politically motivated.
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An international arbitration tribunal awarded Odyssey $37.1 million, finding Mexico in breach of NAFTA obligations.
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The company also invests in CIC, a company investigating seabed mining in the Cook Islands.
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No War, No Weapons
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No evidence available to assess Odyssey Marine Exploration, Inc. on No War, No Weapons.
Planet-Friendly Business
-50
The company has reported no environmental compliance violations in its history.
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While an international arbitration tribunal sided with the company in a dispute where Mexico denied an environmental permit, this was due to Mexico's arbitrary conduct, not a violation by the company.
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The company has filed at least one full Environmental Impact Assessment (EIA) for its 'Don Diego' project, which included 4,600 pages of documentation.
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Respect for Cultures & Communities
-80
Odyssey Marine Exploration has been involved in multiple incidents of cultural appropriation. The company plundered the Spanish shipwreck Nuestra Señora de las Mercedes, leading to a Spanish court recognizing Spain's ownership of 500,000 gold and silver coins taken by Odyssey.
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Additionally, a 2007 incident involved the recovery of treasure from a Portuguese shipwreck, resulting in a $1 million settlement with Spain.
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The company lacks a formal cultural impact assessment protocol despite operating in culturally sensitive areas, such as deep-sea shipwreck sites and proposed mining locations. For its phosphate mining project in Mexico, local fishing communities fiercely opposed the project and their request to present evidence to the investor-state dispute settlement (ISDS) panel was rejected, indicating 0% participation of affected communities in FPIC processes.
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The company states it has a formal grievance mechanism, but no evidence is provided regarding its coverage across operational sites, leading to an omission of specific coverage data.
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The company has caused major disruptions to cultural or heritage sites through its shipwreck recovery activities, which are criticized for violating ethical codes and destroying archaeological records.
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Mexico rejected the company's mining permit twice due to environmental concerns, and the company sued Mexico for billions, indicating a lack of social license to operate for this significant project.
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Safe & Smart Tech
-10
The company reports no specific data breaches or incidents of unauthorized data use, and states that its operations and financial condition have not been materially affected by cyber threats.
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It mentions employing a robust cybersecurity strategy including a sophisticated SOC, SIEM, and Zero Trust architecture, along with risk assessments, threat detection, monitoring, and response strategies.
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Employee security training programs and the use of encryption standards are also mentioned, aligning with standard industry practices.
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Multi-Factor Authentication (MFA) is available.
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Periodic risk assessments are conducted to identify vulnerabilities.
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The company states adherence to NIST and CMMC protocols, indicating basic regulatory compliance.
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However, user control over personal data is limited to opting out of promotional emails on its website, which represents basic data control options with significant limitations.
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Zero Waste & Sustainable Products
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No specific, concrete data points or facts were found in the provided articles regarding Odyssey Marine Exploration's waste diversion rates, product recyclability, packaging sustainability, recycled content, single-use plastic reduction, take-back programs, circular design principles, waste reduction initiatives, hazardous waste management, product durability, repairability, waste audit frequency, zero waste certification, waste disposal violations, material efficiency, packaging-to-product ratio, waste reduction targets, supplier waste requirements, or customer waste education.
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Therefore, no KPIs can be scored.