Jack Ma, Yao Ming join Prince William on project

"It's a great source of hope, and I hope it spreads around the world."

The Earthshot Prize, which is inspired from United Sates President John F. Kennedy's Moonshot program, is centered around five Earthshots, simple but ambitious goals for the planet.

The five Earthshot categories are, protect and restore nature, clean our air, revive our oceans, build a waste-free world, and fix our climate.

Prizes could be awarded to a wide range of individuals, teams or collaborations including scientists, activists, economists, community projects, leaders, governments, banks, businesses, cities and countries.

Each winner will receive a one-million-pound ($1.3 million) reward that will be used to support agreed environmental and conservation projects as well as large-scale public recognition and significant support to scale their solution.