HESTA super fund delivers 'woke' warning to ASX companies

HESTA's warning to ASX companies on climate change and gender diversity is another example of "woke super funds virtue-signalling," according to business columnist Terry McCrann.

The super fund issued an ultimatum to ASX 200 companies, saying they must take action on climate change and gender diversity or lose HESTA's investment.

"At the end of the day, they will not take their money away if the company fails to 'signal action on climate change'," Mr McCrann told Sky News host Peta Credlin.

"They might take it away for legitimate reasons ... but the bottom line is, this is just the erosion of what these institutions should be doing."