Vocus
OVERALL |
|
Owned |
AUS |
Rating |
N/A |
Telecommunication service provider
Founded in 2007, they provide internet, fibre, data centres and unified communications across Australia and New Zealand. They merged with Amcom Telecommunications Ltd in 2015, combining a west coast company with the east coast based Vocus. They then merged as equals with telecommunications reseller, M2 Group, in February 2016 making the merged company Australia's fourth largest telco. M2 brought consumer brands (iPrimus, Slingshot, Orcon and Dodo), business brands (Commander, CallPlus and 2Talk) and wholesale brands (M2, CallPlus) to the merger. The Dodo brand also includes gas and electricity. Vocus operated under brands Vocus, Engin, Flip and Amnet. Vocus announced the acquisition of national fibre network company, Nextgen Networks in June 2016. Acquired by Macquarie Infrastructure and Real Assets (MIRA) and Aware Super, who formed a consortium called Voyage Australia Pty Limited for this acquisition in 2021.
Company Ownership
Vocus Group Ltd | AUS | website | ||||
Macquarie Group Ltd
owns 50% of Vocus Group Ltd |
AUS | website | ||||
Financial services One of the few Australian owned investment banks. | ||||||
Aware Super Pty Ltd
owns 50% of Vocus Group Ltd |
AUS | website | ||||
Superannuation Australia's second largest superannuation fund, with $130bn under management following the merger between First State Super, VicSuper and WA Super in 2020. |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Vocus Group Ltd | ||||
This company received a packaging performance level of 3 (Advanced) in its 2023 APCO Annual Report. Australian Packaging Covenant Organisation (APCO) is a not-for-profit organisation leading the development of a circular economy for packaging in Australia. Each year, APCO Members are required to submit an APCO Annual Report and Action Plan, which includes an overall performance level from 1 (Getting Started) to 5 (Beyond Best Practice).
Source: APCO (2023) |
In 2021, after an ACCC investigation, the Federal Court ordered Dodo and iPrimus to pay $2.5m for misleading NBN speed claims. Dodo and iPrimus, both part of the Vocus Group, admitted that their 'typical evening speed' claims made between March 2018 and April 2019 were misleading because they were not based on an appropriate testing methodology.
Source: ACCC (2021) |
This company has social impact claims on its website in the areas of community support, environment, policy statements and sustainability reports.
Source: company website (2021) |
||
Macquarie Group Ltd | ||||
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of B.
Source: CDP (2023)
This company is listed as having best practice on a report card on lesbian, gay, bisexual and transgender equality in corporate America.
Source: Human Rights Campaign (2021) |
Banks play a critical role in enabling and sustaining fossil fuel projects. Macquarie Bank loaned $2.6 billion to dirty fossil fuel projects between 2008 and 2016.
Source: Market Forces (2016)
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 4.7%.
Source: Forest 500 (2023)
The 2018 update of the International Campaign to Abolish Nuclear Weapons' (ICAN) global report, "Don't Bank on the Bomb" showed that 329 financial institutions from around the world invested into 20 companies involved in the production, maintenance and modernization of nuclear weapons. Since 2014 this financial institution invested over US$1.5 billion into 7 of the 20 nuclear weapons producers named in the report.
Source: ICAN (2018)
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #85/400, with a total score of 21.6/100.
Source: World Benchmarking Alliance (2022) |
Greenpeace's Reenergise campaign ranks Australia's biggest electricity using companies on their commitments and actions regarding renewable energy use. This company has committed to powering their operations by 100% renewable electricity by 2030. However they have not invested in on-site solar, and have not signed a power purchase agreement (PPA) to buy power from a wind or solar project.
Source: Greenpeace (2021)
According to the democracyforsale.net website, this company donated $2,321,743 to Australia's major political parties between 2012 and 2018, as disclosed to the Australian Electoral Commision (AEC).
Source: Democracy For Sale (2018)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: commit to 100% renewable power.
Source: We Mean Business (2021)
Between 2015 and 2018 this company paid $490 million tax on a total income of $27 billion, earning the number 30 spot on Michael West's Top 40 Tax Payers 2020. West calculated which of Australia's largest companies have paid the most tax using three years of tax transparency data published by the Australian Tax Office.
Source: Michael West (2018)
Modern slavery disclosure is a critical step in mitigating the risk associated with modern slavery practices in companies' operations and supply chains. The quality of the disclosure signals the level of commitments and efforts that the companies have put in managing these risks. In 2021 the Monash Centre for Financial Studies analysed and ranked the disclosure quality of the modern slavery statements submitted by the 300 largest listed companies on the Australian Stock Exchange (ASX300). This company's modern slavery disclosure statement received a grade of D.
Source: Monash University (2021)
This company received an S&P Global ESG Score of 41/100 in the Diversified Financial Services and Capital Markets category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 16 Dec 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
BankTrack is a global network of civil society organisations and individuals tracking the operations of the banking sector and the activities they finance. BankTrack aims to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices. Follow the link to see this bank's profile.
Source: BankTrack (2018) |
||
Aware Super Pty Ltd | ||||
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #74/400, with a total score of 22.6/100.
Source: World Benchmarking Alliance (2022) |
Company Details
Type | Private company |
Founded | 2007 |
Revenue | 831 million AUD (2016) |
Employees | 3,000 (2016) |
Subsidiaries | Dodo Services Pty Ltd
Telecommunications, energy and insurance Started by Larry Kestelman and Michael Slepoy in Melbourne in 2001, Dodo provides services for internet, mobile phone, telephone, electricity and gas, insurance products and alarm monitoring, predominantly to residential customers. Sold to M2 Group Limited for AU$250m in 2013. M2 Group subsequently merged with Vocus Communications Ltd in February 2016 and the merged companies took the Vocus name. |
Contact Details
Address | L12, 60 Miller St, North Sydney, NSW, 2060, Australia |
Phone | 02 8999 8999 |
Freecall | 1800 030 057 |
info@vocus.com.au | |
Website | www.vocus.com.au |