The multimillion pound project will search for answers to Earth's biggest problems.

Tipping Point

On Tuesday, the Duke and Duchess of Cambridge announced the Earthshot Prize, an initiative designed to solve Earth's greatest environmental problems before 2030.

"The earth is at a tipping point," Prince William said in a statement, "and we face a stark choice: 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."

Prize Amount: TBD

According to the Earthshot Prize website, the multimillion pound project will hold several events that will lay out a series of challenges focused on solving problems related to Earth's climate, air pollution, and fresh water supply.

Then, every year for 10 years, the Earthshot Prize will award five people or groups a "prestigious prize" to support their efforts to address the challenges.

50 Ways to Save Your Planet

The ultimate goal of the Earthshot Prize — which Sir David Attenborough is calling "the most prestigious environmental prize in history" — is to create at least 50 solutions to some of the biggest problems facing the Earth by 2030.

"People can achieve great things," Prince William added in the statement. "And the next ten years presents us with one of our greatest tests — a decade of change to repair the Earth."

READ MORE: Prince William unveils 'Earthshot prize' to tackle climate crisis [The Guardian]

More on climate change: WWF: Climate Change Efforts Need "Dramatic Increase" in Response

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