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Prince William announces new prize to incentivize climate solutions

Prince William announces new prize to incentivize climate solutions
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Prince William has announced an initiative that would offer the equivalent of about $1.3 million to develop climate and environmental solutions.

The Duke of Cambridge said the Earthshot Prize would take inspiration from President John F. Kennedy’s 1961 “moonshot” program, which successfully spurred rapid innovation to land American astronauts on the moon.

Winners will receive 1 million pounds every year for the next decade, with a similar goal of reaching lasting climate solutions by 2030.

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“The plan is to really galvanize and bring together the best minds, the best possible solutions, to fixing and tackling some of the world’s greatest environmental challenges,” William told legendary British documentarian David Attenborough in a film announcing the project. “We’ve got to harness our ingenuity and our ability to invent.”

William said the initiative would include five categories: ocean revival, elimination of waste, nature protection and restoration, and climate solutions. Nominations will open for the first prize Nov. 1. The first round of winners will be awarded in London next fall, with the city set to change every year.

The Global Alliance, which includes philanthropic organizations such as the Jack Ma Foundation, Bloomberg Philanthropies and the Paul G. Allen Family Foundation, will provide the funds for the award, according to NBC News.