HESTA investment committee chair and independent director Mark Burgess will leave the board when his term expires. 

Since joining the industry fund, Burgess has helped oversee landmark investment decisions, including developing HESTA’s first Climate Change Transition Plan. This saw HESTA in 2020 become the first major Australian super fund to announce an ambition to reach net zero carbon emissions by 2050 across its portfolio. The fund has subsequently lifted to 50 per cent, an interim target set in 2020 to achieve a 33 per cent reduction in normalised emissions by 2030 (against a 2020 baseline). 

In anticipation of the end of Burgess’s term, HESTA began recruiting his replacement last year. The fund is currently finalising the appointment, which is due to start on 1 July 2023.