How would the Climate Prize in memory of Alfred Nobel (known to the public as the Nobel Prize for the Fight Against Climate Change) be administered, awarded and funded?
The Board of the Nobel Foundation would accept to administer the new Prize, following the same process it uses to accept to administer the Sveriges Riksbank (Sweden’s central bank) Prize in Economic Sciences in Memory of Alfred Nobel (known to the public as the Nobel Prize in Economic Sciences).
The Nobel Foundation would decide which entity should nominate the Climate Prize Committee (for instance, for the Nobel Peace Prize, the Norwegian parliament appoints the 5 members of the Norwegian Nobel Committee).
The Committee would work as any other Nobel Prize Committee.
The Prize would reward extraordinary achievements in reducing carbon emissions, in removing historic emissions from the atmosphere or in adapting to climate change.
The Prize amount would be the same the other Nobel Prizes (9 Million SEK, $1.11 Million). The money would be paid by a fund open to donations (including individual micro-contributions).
This is a possible implementation we foresee for the Prize. However this may not be the final arrangement.
The main goal is for the Prize to be administered by the Nobel Foundation with a dedicated Committee along with the other Nobel Prizes.