Australia paves way in commitment to ELT gender diversity: HESTA

Yasmine Raso

Senior Journalist, Financial Newswire

15 January 2026

A new report from HESTA’s 40:40 Vision initiative has confirmed Australia’s top companies have either maintained or increased their strong commitment to gender diversity at the executive leadership level, while the same cannot be said for their global counterparts.

According to the results of the survey completed in August 2025 which informed the report, 95 per cent of the 30 responding 40:40 Vision company signatories said they had maintained their commitment to gender diversity and 100 per cent signalled their agreeance that more gender diversity in leadership “benefits [both] talent attraction and retention and workplace culture”.

A further 91 per cent said it also benefits business performance, while 90 per cent said setting a target had been useful in making and monitoring progress towards gender balance in leadership. Of the survey respondents, 87 per cent had set interim gender targets and 85 per cent of these targets were on track or already achieved.

“The strong conviction among many Australian companies of the value of gender diversity in executive leadership is encouraging. It again highlights the difference in Australia, where we have not given up the critical advances made over recent years,” Chair of 40:40 Vision and HESTA chief executive, Debby Blakey, said.

“We also acknowledge there remains much more to do. Embracing diverse perspectives is a driving force behind innovation, resilience, and sustainable success in an ever-evolving world and we have yet to fully unlock these benefits across the economy.

“Gender equality is not just a moral imperative; it’s a strategic one. The evidence is clear – companies with gender-balanced leadership perform better, innovate more, and deliver stronger economic outcomes.

“Targets are a proven tool for driving change. It’s encouraging to see so many of our signatory companies not only setting targets but also achieving their interim goals and experiencing the tangible benefits of doing so.”

The report also featured an updated on overall progress towards gender balance within executive leadership teams (ELT), measured by the initiative as 40 per cent women, 40 per cent men, and 20 per cent of any gender. Of the total 41 company signatories, 41 per cent have at least 40 per cent of women in ELT roles compared to 26 per cent across ASX300 companies overall. A further 27 per cent were close to reaching 40 per cent of women in ELTs, hovering around 30 to 39 per cent at the time of the survey.

While the report also highlighted some gender diversity improvements across ASX300 boards, the number of women CEOs remains stationary at 10 per cent.

“This report confirms what we have long known: to improve gender diversity in corporate leadership, companies need more than simply goodwill. They need clear targets tied to genuine accountability,” Chief Executive Women CEO, Lisa Annese, said.

“The 2025 CEW Senior Executive Census also underscored this reality: organisations with 40:40 commitments consistently outperform those without them. We have the formula for change. We need companies to commit to it, resource it, and ensure accountability for delivering it.”