gender equality

why we do this
 

Gender inequality has direct and indirect impacts on the economy, our investment portfolio, and on the retirement outcomes of our members, around 80% of whom are women.

Women face a range of barriers to economic participation throughout their working lives, which results in women retiring with less super than men on average.

We advocate for changes that will improve women’s financial security and help facilitate their equal participation in the economy. Championing gender equality and diversity, and challenging discriminatory gender norms are important areas of change to help our members achieve a better retirement.

HESTA understands that applying a gender lens to investment activities can support strong economic growth, greater investment returns and positive financial outcomes for members.

how we do this
 

1. Advocating with influence

Around 80% of HESTA members are women. HESTA advocates for changes that will improve super retirement outcomes for women.

HESTA is actively involved in public policy debates that affect our members.  
View our submissions on gender equality
 

Our success stories

• Super on Paid Parental Leave: after 13 years of advocacy, in 2024 HESTA welcomed legislation requiring super to be paid on the Commonwealth Paid Parental Leave scheme. HESTA modelling shows this change should add around $6,500 per child to a typical member’s retirement balance. 
  
  
• Scrapping the $450 super threshold: HESTA had advocated for many years to scrap the $450 super threshold and welcomed the passing of legislation as an important step in improving financial security for women
• Super Splitting: HESTA was an early adopter of the Simpler Super Splitting initiative, which simplifies the process of splitting superannuation through family law settlements. This simplified process goes a long way towards ensuring equity in super outcomes when relationships end.

2. Gender equity in investments

We understand that applying a gender lens to our investment activities and decisions can support greater financial returns and reduce the risks associated with systemic inequality.

Gender inequality is material to company performance and financial outcomes. We know that companies who embrace inclusive workplace cultures and diverse leadership are better performing companies who produce greater return on investment.*  

How we embed gender equality in our responsible investment activities: 

40:40 Vision 

40:40 Vision is an investor-led initiative founded by HESTA and supported by industry partners which seeks to achieve gender balance in ASX300 executive teams by 2030. 40:40 is defined as 40% identifying as women, 40% identifying as men and 20% identifying as any gender. 

40:40 Vision is supported by industry partners including the Workplace Gender Equality Agency, 30% Club, Chief Executive Women and the Australian Council of Superannuation Investors (ACSI). 
 

Learn more about 40:40 Vision

3. Values-aligned investment partners

Since 2018 HESTA has been biennially surveying our investment managers on gender diversity within the teams of investment professionals managing our members capital. 

Pleasingly, momentum is heading in the right direction, with a 7% increase in the number of women employed across HESTA’s investment partners between 2018 and at the time of our latest survey in 2022. HESTA believes in the value of diverse teams and will continue to promote gender balanced representation across our investment value chain. 

4. Voting

We believe good governance relies on having diversity of thought around the decision-making table, including gender diversity. As a member of the 30% Club, we believe at least 30% of ASX board director positions should be occupied by women. On a case-by-case basis, HESTA may vote against companies with poor gender balanced representation. 

In addition to voting, HESTA regularly engages companies within our portfolio on a number of key gender-related issues, including gender diversity, culture and workplace safety.

See our voting report (pdf)