Prince William and David Attenborough are launching a new environmental prize

British royal, Prince William, has teamed up with broadcaster Sir David Attenborough to launch the biggest environmental prize in the world, which they believe will become the "Nobel Prize for environmentalism."

The Earthshot Prize aims to incentivize change and help to repair the Earth over the next ten years, awarding £50m (US$64.6m) to fund 50 solutions to the world’s most pressing environmental problems by 2030. It is centred around five ‘Earthshots’, which are simple but ambitious goals for the planet, improving life for everyone and for generations to come. These include protecting and restoring nature; cleaning the air; reviving the oceans; building a waste-free world and fixing the climate.

The prize aims to find new solutions that work on every level, have a positive effect on environmental change and improve living standards globally, particularly for communities who are most at risk from climate change. Every year from 2021 until 2030, Prince William and the Earthshot Prize Council will make a £1m ($1.27m) award to five winners, one per Earthshot. Anyone whose workable solutions make a substantial contribution to achieving the Earthshots is eligible, including individuals, teams, collaborations, businesses, cities and countries.

“The Earth is at a tipping point and we face a stark choice," says Prince William. "Either we continue as we are and irreparably damage our planet, or we remember our unique power as human beings and our continual ability to lead, innovate and problem-solve. People can achieve great things. The next ten years present us with one of our greatest tests – a decade of action to repair the Earth.”

Nominations for the prize open on November 1, with an annual awards ceremony held in a different city each year. The first ceremony will take place in London in the fall of 2021 and further information is available from The Earthshot Prize's website