It's really a function named module. It appears in environment variables when you export a function.
$ test() { echo test; }
$ export -f test
$ env | sed -n '/test/{N;p}'
test=() {  echo test
}
From bash documentation - export:
  export
 export [-fn] [-p] [name[=value]]
  
  Mark each name to be passed to child processes in the environment. If
  the -f option is supplied, the names refer to shell functions;
  otherwise the names refer to shell variables. The -n option means to
  no longer mark each name for export. If no names are supplied, or if
  the -p option is given, a list of exported names is displayed. The -p
  option displays output in a form that may be reused as input. If a
  variable name is followed by =value, the value of the variable is set
  to value.
  
  The return status is zero unless an invalid option is supplied, one of
  the names is not a valid shell variable name, or -f is supplied with a
  name that is not a shell function.
     
    
=sign)? Because for me, bash doesn't like it. However without the=it would be a function definition.