Regulatory Alerts2025-11-06
HESTA pays ASIC infringement notices alleging misleading statements about carbon emissions
The Australian Securities and Investments Commission (ASIC) issued two infringement notices requiring HESTA superannuation fund trustee to pay $37,560 for publishing misleading paid advertisements about its carbon reduction commitments. ASIC determined that HESTA falsely claimed it would eliminate all carbon emission investments by 2050, whereas its actual strategy targeted net-zero emissions through permissible offsets, thereby misleading consumers seeking ethical investment options. HESTA voluntarily reported the discrepancy, settled the notices in November 2025 without admitting liability, and the matter underscores ASIC’s ongoing enforcement campaign against greenwashing practices across the financial services industry.
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