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Prince William has announced an ambitious new plan to "repair the Earth" within the next 10 years.

Posting a short video on the official Kensington Palace Twitter page, the Duke of Cambridge wrote: "Who is ready to lead as we make the 2020s a decade of action to repair our planet?

"Introducing the @EarthshotPrize."

The promotional clip, voiced by Sir David Attenborough, marks the launch of the "most prestigious environment prize in history" which will "aim to generate new ways of thinking, as well as new technologies, systems, policies and solutions."

The Earthshot Prize is described on its own dedicated website as "a set of challenges to inspire a decade of action to repair the planet" designed to "reward progress across all sectors of industry and society."

"The prizes could be awarded to a wide range of individuals, teams or collaborations – scientists, activists, economists, leaders, governments, banks, businesses, cities, and countries – anyone who is making a substantial development or outstanding contribution to solving our environmental challenges," it explains.

"The challenges will be a chance for everyone’s voice to be heard, we want to motivate and inspire a new generation of thinkers, leaders and dreamers."

Following the big announcement, the Duke of Cambridge tweeted in a separate post: "The Earth is at a tipping point 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.

"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."

The new prize was inspired by the 1969 moon landing, Sir David explains in the one-minute video, as he hails humankind's "extraordinary power to solve the greatest of challenges."

The Earthshot website builds on this analogy, stating: "Just as the moonshot that John F. Kennedy proposed in the 1960s catalysed new technology such as the MRI scanner and satellite dishes, we want our Earthshot challenges to create a new wave of ambition and innovation around finding ways to help save the planet."

The prize will be awarded to five winners per year over 10 years, in the hope of finding "at least 50 solutions to the world’s greatest problems by 2030".

And an annual awards ceremony will take place in different cities across the world each year between 2021 and 2030, the website confirms.

It continues: "Crucial summits including the Convention on Biodiversity in China and the COP26 Climate Change Conference in the UK, we will unveil a small number of Earthshot challenges in special events around the globe.

"These challenges will seek answers to the biggest issues currently facing the planet, including: climate and energy, nature and biodiversity, oceans, air pollution and fresh water."