Greenwashing and the HESTA wake-up call

The trustee for the HESTA superannuation fund, H.E.S.T. Australia Ltd (HESTA), has paid $37,560 to comply with two infringement notices issued by ASIC for alleged misleading statements in its online advertising.

ASIC alleged that between 15 April 2021 and 18 December 2024, HESTA ran paid advertisements on Google and Bing that stated: “HESTA is committed to remove all investment in carbon emissions by 2050…”

The advertisements linked to the ‘Why Join’ page on the HESTA website. ASIC was concerned that these statements gave the impression HESTA planned to eliminate all investments associated with carbon emissions by 2050, when this was not its actual plan.

HESTA’s stated target was to achieve net zero carbon emissions across its investment portfolio by 2050, which differs from removing all investments in carbon-emitting assets, as net zero may be achieved through offsetting.

ASIC Deputy Chair Sarah Court said “In making these representations, HESTA overstated its commitment to reducing investment in carbon emissions. Consumers relying on those claims may have been misled about the extent of HESTA’s sustainability commitments and denied the opportunity to make fully informed decisions about their superannuation provider.”

HESTA self-reported the incident to ASIC and paid the infringement notices on 3 November 2025.

Payment of an infringement notice is not an admission of guilt or liability.