Retirement
Big super pushes for gender parity
One of Australia’s largest superannuation funds has launched an investor-led initiative that will see women fill at least 40 per cent of the executive roles in the ASX 200 over the next decade.
Big super pushes for gender parity
One of Australia’s largest superannuation funds has launched an investor-led initiative that will see women fill at least 40 per cent of the executive roles in the ASX 200 over the next decade.
HESTA’s announcement follows members’ concerns at the slow rate of progression towards greater gender balance among listed companies.
HESTA CEO Debby Blakely said investors are concerned that just 30 out of the leading 200 companies have at least 40 per cent women in their executive teams.
“It’s concerning progress has been so slow, and at this rate it will be another 80 years before we see equal representation of men and women at CEO level – and similarly in executive leadership – unless action is taken now,” Ms Blakey said.
“We see lack of gender diversity in leadership as a financial risk – companies that fail to consider 50 per cent of the population for leadership positions risk missing out on the best people, and the performance of the organisation will eventually suffer.”
HESTA’s 40:40 Vision Investor Statement was launched with eight inaugural signatories representing over $1 trillion in assets under management.
Large investment firms including Aberdeen Standard Investments, BlackRock Australia, Ellerston Capital, Fidelity International, First Sentier Investors, IFM Investors, Pendal Group and WaveStone Capital are all part of the movement.
Investors joining the initiative will commit to engaging with ASX 200 companies to encourage them to sign up to 40:40 Vision and pledge to achieve 40 per cent women, 40 per cent men and 20 per cent any gender among C-suite roles by 2030 and to set clear and public targets towards this goal.
“We want to see real, genuine change, not just additional layers of needless reporting and governance that invariably becomes a tick-the-box exercise,” Ms Blakey said.
“As a significant investor, we cannot simply diversify away from risks stemming from social inequality. Investors have real power to engage with ASX 200 companies on the gender diversity of their executive teams and influence change.”
The 40:40 Vision campaign also has the support of industry partners Chief Executive Women, the Australian Council of Superannuation Investors, 30% Club and the Workplace Gender Equality Agency.
RELATED ARTICLES
About the author
About the author
Superannuation
Rest promotes Rachel O’Connor to head fixed income team
In a significant move within Australia's superannuation sector, Rest, one of the largest profit-to-member funds in the country, has announced the promotion of Rachel O'Connor to lead its Fixed Income ...Read more
Superannuation
Employment Hero raises concerns over superannuation bill's impact on small businesses
Employment Hero has raised significant concerns regarding the implementation of the proposed Supporting Choice in Superannuation and Other Measures Bill, which was recently recommended for passage by ...Read more
Superannuation
Rest calls for reform of superannuation rules for young workers
In a bold move to enhance the financial future of young Australians, superannuation fund Rest is advocating for the abolition of what it deems an "unfair and outdated" rule affecting under-18 workersRead more
Superannuation
Australians face readiness crisis as payday super reform looms
As the implementation date for one of Australia’s most significant superannuation reforms draws near, new research reveals a startling lack of awareness and preparedness among both businesses and ...Read more
Superannuation
Rest posts healthy returns following a positive end to 2025
Rest, one of Australia's largest profit-to-member superannuation funds, has reported impressive returns in its flagship MySuper Growth investment option for the year 2025. The fund is optimistic about ...Read more
Superannuation
Rest marks milestone with first private equity co-investment exit
In a significant development for Rest, one of Australia’s largest profit-to-member superannuation funds, the organisation has announced the successful completion of its first private equity ...Read more
Superannuation
Expanding super for under-18s could help close the gender super gap, says Rest
In a push to address the gender disparity in superannuation savings, Rest, one of Australia's largest profit-to-member superannuation funds, has called for a significant policy change that would allow ...Read more
Superannuation
Employment Hero pioneers real-time super payments with HeroClear integration
In a significant leap forward for Australia's payroll and superannuation systems, Employment Hero, in collaboration with Zepto and OZEDI, has successfully processed the country's first ...Read more
Superannuation
Rest promotes Rachel O’Connor to head fixed income team
In a significant move within Australia's superannuation sector, Rest, one of the largest profit-to-member funds in the country, has announced the promotion of Rachel O'Connor to lead its Fixed Income ...Read more
Superannuation
Employment Hero raises concerns over superannuation bill's impact on small businesses
Employment Hero has raised significant concerns regarding the implementation of the proposed Supporting Choice in Superannuation and Other Measures Bill, which was recently recommended for passage by ...Read more
Superannuation
Rest calls for reform of superannuation rules for young workers
In a bold move to enhance the financial future of young Australians, superannuation fund Rest is advocating for the abolition of what it deems an "unfair and outdated" rule affecting under-18 workersRead more
Superannuation
Australians face readiness crisis as payday super reform looms
As the implementation date for one of Australia’s most significant superannuation reforms draws near, new research reveals a startling lack of awareness and preparedness among both businesses and ...Read more
Superannuation
Rest posts healthy returns following a positive end to 2025
Rest, one of Australia's largest profit-to-member superannuation funds, has reported impressive returns in its flagship MySuper Growth investment option for the year 2025. The fund is optimistic about ...Read more
Superannuation
Rest marks milestone with first private equity co-investment exit
In a significant development for Rest, one of Australia’s largest profit-to-member superannuation funds, the organisation has announced the successful completion of its first private equity ...Read more
Superannuation
Expanding super for under-18s could help close the gender super gap, says Rest
In a push to address the gender disparity in superannuation savings, Rest, one of Australia's largest profit-to-member superannuation funds, has called for a significant policy change that would allow ...Read more
Superannuation
Employment Hero pioneers real-time super payments with HeroClear integration
In a significant leap forward for Australia's payroll and superannuation systems, Employment Hero, in collaboration with Zepto and OZEDI, has successfully processed the country's first ...Read more
