Earthshot Prize

 The most prestigious global prize for the environment in history, the Earthshot Prize seeks to turn the often pessimist tide surrounding environmental issues into an optimist one – and does so by recognising and celebrating the ability of human ingenuity to create change and inspire collective action.

What is the Earthshot Prize?

First established in 2020 by The Royal Foundation and with the first-ever prizes awarded in 2021, the Earthshot Prize celebrates impactful environmental achievements across the globe. Foreseen to run yearly until 2030, this Prize rewards its winners with 1 million pounds so that they can continue and increase their environmental work. The Prize was inspired by the UN Sustainable Development Goals and is divided into five categories (the Earthshots):

• Protect & Restore Nature;
• Clean our Air;
• Review our Oceans;
• Build a Waste-Free World; and
• Fix our Climate.

Every year, hundreds of organisations and projects are nominated for the Earthshot Prize by a group of Nominators (comprising 345 entities in 80 countries, with the Plastic Pollution Coalition among them). All nominations go through a thorough screening and evaluation process, which takes into account the inspiring stories behind each nominee; factors such as inclusion, societal benefits, and equity. The selection criteria also give primacy to solutions that are past their conceptual/embryonic phase, and can demonstrate either working prototypes or tangible impacts which can be readily scaled or replicated.All of us in this Erasmus+ program are thrilled with our nomination, which is linked to our work on the first-ever Zero Waste Bonds!

We have been exploring new financing mechanisms to fund the transition towards zero waste at the local level, as a response to the most common challenge faced by pioneer zero waste cities and other committed local stakeholders: how can we fund the investment needed by a new prevention policy or a more advanced waste management system? While EU standards are pushing for better recycling or prevention targets, the investment is still flowing to traditional downstream waste management infrastructure. One of the first financial tools to be implemented is our Zero Waste Bonds, an outcome-based investment mechanism that will fuel funding towards the right solutions, while empowering communities locally.

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