Excerpts of Ivan Deveson Speech at Climate Alliance Launch

Melbourne November 17, 2009

“... the role of the company director is very different and very difficult - you know many words that could be used to describe it - demanding, time consuming, high risk, financially rewarding and many more - for me, the qualification to meet these demands that is at or near the top, is relevance - the ability to stay on top of, and ahead of emerging issues and to identify the risks and opportunities that they present to the business where you are involved.”

“This, in my opinion, moves the pendulum of director's qualifications somewhat away from experience, towards visionary strategic skills and relevance.”

“Having spent over 30 years in the auto industry, many of them in Detroit, I have had good reason to think about what went wrong, and what could I have done that l didn't do. There will be many books written about this in the next few months, and I anticipate many chapters on the subject of failure to change quickly enough - failure to change product, organizational structure and strategy - failure to rationalize product options - the impact of environmental concern on consumers. Corporate momentum is very powerful - and where it needs to change, it needs "first ruck" change agents in the boardroom. There is no longer any room for yesterday's people, yes men, wimps and mates!”

“To some degree, it is fair to say that the non-executive loans his or her name to the company - the chief executive utilizes the prestige, the integrity, the wisdom of the people's names that are on the letterhead. It takes years and years to take the greatest asset in your life - your name, given to you at birth, and turn it into a reputation. How long does it take to destroy that reputation - months, weeks, or nanoseconds? While most of the reputational damage comes from ethics, or the lack of it - think of Martha Stewart Steve Vizards Bernie Madoff - others suffered from the inability to see the future and make the necessary changes - think of Hardies, British Leyland, the United States machine tool industry.

“We, you and I, have said goodbye to the industrial revolution - we are now in the information revolution - what's next? Could it be the BRICS - Brazil, Russia India and China mounting an economic challenge to Western supremacy - could it be the environment - climate change, carbon capture, recycling - the green revolution? If it is climate change - what do you believe - man made or not - can Australia make a difference? What role do you need to play in this challenge of change? You are well aware that when a major change is under consideration, those with a vested interest in no change, or those looking for subsidies to cushion the impact of change, put their "half glass empty'' spin doctors to work, making, in some cases, for confusion and reticence. Being sure that you have balanced information to protect your company from yet another risk, or to seize an opportunity - is paramount.”

“I am not here today to try to convince you that there is, or is not, a climate change problem - I do not have any management involvement with the Climate Alliance - but I am here to ask you to look at what they offer to help you, in a non partisan way, to come to your own conclusions and action plan.”

“In closing, I would again remind you that your name, your reputation, and the business you direct can quickly be significantly damaged, or destroyed by emerging issues that must be addressed. Climate change is one of them! I would encourage you to at least look at, and consider what the Climate Alliance, a not-for-profit group, have to offer in assisting you to be knowledgeable in the emergence of climate change - arguably one of the most significant changes to occur in business, in our lifetime - are you ready to meet this challenge of change - the challenge of climate change?”