2020 CEO Survey: Debby Blakey, HESTA

Australia has an opportunity to think about how to build more resilient communities and economies, says HESTA chief Debby Blakey.

What are the three enduring lessons or changes to flow from COVID-19?

COVID-19 has demonstrated just how unpredictable the world around us is, and how adaptable and agile leaders and organisations need to be. Leaders in business and government have a great opportunity to challenge the status quo and be much more ambitious than simply returning to normal.

There will continue to be challenging times for many ahead, and Australia has an opportunity to think about how we can build more resilient and adaptable organisations, communities and economies.

How would you rate the shape of the Australian economy as we head into the new year?

There’s good reason to be optimistic about the Australian economy, relative to global peers, given our success in containing COVID-19 and the commitment to fiscal and monetary stimulus.

We’re confident 2021 will present new opportunities to investors. We’re already seeing an acceleration in the response to climate change, with more opportunities to invest in renewables and clean energy solutions.

What three reforms are needed to sustainably grow the economy?

Applying a gender lens to our recovery. Despite being at the forefront of delivering critical services to our communities, women have been disproportionately impacted by the economic fallout of COVID-19. We have a real opportunity to invest in a more inclusive and sustainable recovery. Initiatives addressing gaps in childcare, aged care, disability care, public housing and education can increase women’s workforce participation and create long-term investment opportunities.

Reform to make our super system fairer for women is long overdue.

Australia has a fantastic opportunity for a green-led, inclusive recovery that can create long-term sustainable employment, more resilient communities and a healthier environment.

What are the three best growth opportunities for your company in 2021?

Supporting a transition to a low-carbon economy. Australia has an opportunity to think beyond stimulus to sustainability and creating the green jobs of the future.

The pandemic has underlined the importance of a strong and resilient health system. COVID-19 has brutally exposed gaps in national systems and governance. Australia has been remarkably adaptable, but we’ve seen where the gaps are and now’s the time to address them. Investment alongside adequate government funding of our “care economy” is critical if we’re to improve our economic resilience and long-term productivity.

A strong focus for HESTA in 2021 is internalisation of some of our asset management.

We’ve also seen an exponential increase in the opportunities to use digital data and insights to support members to achieve a better financial future.

How would you rate business, state and federal government performance this year?

The establishment of a National Cabinet was a positive example of what can be done when governments at all levels work together. COVID-19 is a universal challenge and as we finish 2020 I think Australians feel very privileged to be able to safely spend time with family and loved ones when so many around the world are really doing it tough.