SYDNEY, 26 SEPTEMBER, 2014: Following the notice of AGM circulated by BHP Billiton (BHPB) yesterday, Ian Dunlop has confirmed that he will be running for a seat on the BHPB board.

“Climate change is happening fast, primarily caused by human carbon emissions. It is already transforming the economic and social context for business in the 21st Century” Mr Dunlop said.

“The unavoidable transition to low-carbon society will happen faster than currently anticipated, posing serious risks, but opening up unprecedented shareholder value creation opportunities for companies like BHPB, provided the need for rapid transformation is recognised in time.

“BHPB accepts the IPCC science as a basis for action, but the IPCC is inherently conservative and subject to political oversight. Prudent risk management must go beyond this conservative view and recognise the need for far more rapid action given increasing evidence of irreversible climate change taking hold.

“Given the extensive climate change knowledge now available, the fiduciary obligations of directors require this broader approach to risk management.

“Accordingly the Board must re-orientate BHPB to focus on the opportunities of the 21st Century low-carbon world, rather than continuing to advocate enhanced incremental change to 20th Century high-carbon business models.”

“The current Board needs to enhance its skillset to meet this challenge.

“I believe that my experience and perspectives would complement existing Board members skills in addressing these risks, and in maximizing shareholder value as the transition to the low-carbon future accelerates.

“I look forward to working closely, and speaking with, BHPB shareholders, institutional investors and the current Board over the coming weeks and months,” Mr Dunlop said.

Further Information:

Ian Dunlop Background

Ian Dunlop has wide experience in energy resources, infrastructure, and international business, for many years on the international staff of Royal Dutch Shell. He has worked in many countries at senior level in oil, gas and coal exploration and production, in scenario and long-term energy planning, competition reform and privatization.

He chaired the Australian Coal Association in 1987-88. From 1998-2000 he chaired the Australian Greenhouse Office Experts Group on Emissions Trading, which developed the first emissions trading system design for Australia. From 1997 to 2001 he was CEO of the Australian Institute of Company Directors. Ian has a particular interest in the interaction of corporate governance, corporate responsibility and sustainability.

An engineer from the University of Cambridge (UK), MA Mechanical Sciences, he is a Fellow of the Australian Institute of Company Directors, the Australasian Institute of Mining and Metallurgy and the Energy Institute (UK), and a Member of the Society of Petroleum Engineers of AIME (USA).

He is Chairman of Safe Climate Australia, a Director of Australia 21, Deputy Convenor of the Australian Association for the Study of Peak Oil, a Fellow of the Centre for Policy Development, a Member of The Club of Rome and a member of Mikhail Gorbachev’s Climate Change Task Force.

He is a Member of the Advisory Board of the Australian Research Council’s Centre of Excellence for Climate System Science at the University of NSW, and an Associate of the Melbourne Sustainable Society Institute at the University of Melbourne. He advises and writes extensively on governance and sustainability.