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"The award Earthshot Prize aims to encourage outstanding people in the world that solve the most serious problems of the Earth: emergency facing our natural world," - said in a statement.
Dukes plan annually to elect five winners who will receive several million pounds. By 2030, Prince William and Kate Middleton wants to reward the 50 applicants.
Winners will be selected after consultation with scientists and experts from environmental organizations. The award will be able to get one person and organization. Prize will be awarded to scientists, activists, economists, community leaders, governments, banks, cities, countries.
In addition to monetary awards winners will receive public recognition. The first award ceremony will take place in 2021. Each year the ceremony will be held in different cities.