Aware Super chief executive Deanne Stewart says her $150 billion fund would rather engage with companies through “private conversations” than pushing them to include directors on their boards, as rival HESTA is doing at Woodside.

But she did not rule out such direct action in the future, noting that such directors would still be independent and that ensuring companies were acting in super customers’ long-term interests on issues such as climate change was part of being a “responsible owner”.