UAE-based DP World has teamed up with Expo 2020 Dubai to become a global alliance founding partner of the prestigious Earthshot Prize, announced this week by the Duke of Cambridge Prince William.

The Earthshot Prize, an initiative by the Royal Foundation of the Duke and Duchess of Cambridge, will present five £1 million ($1.3-million) awards each year for the next 10 years, to "incentivise change and help to repair our planet over the next ten years," said his office in London.

Kensington Palace described it as the "most prestigious global environment prize in history" and said it was inspired by US president John F. Kennedy's "Moonshot" project in the 1960s.

"We need to find solutions to be able to live our lives and enjoy our lives and not feel guilty and bad about some of the things we do," the prince, who is second in line to the throne, told BBC Radio 4 in an interview aired Thursday.

"That ultimately has to change, because I also worry from a mental health point of view, the anxiety and the worry that many of these younger generations are going to have."

The aim is to provide at least 50 solutions to the world’s greatest problems by 2030.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “At DP World we believe in protecting our people and our planet through world-class safety and environmental standards. We focus on making a positive impact on economies and societies wherever we work, so we are proud to be a global alliance founding partner of the Earthshot Prize.”

Reem Al Hashimy, UAE Minister of State for International Cooperation and director general of Expo 2020 Dubai, added: “Expo 2020 Dubai is a place where nations and people will explore solutions to challenges like climate impact and sustainability, and inspire people to think and act differently to change for the better. We are hugely excited to be a part of this relevant, important and exciting initiative, The Earthshot Prize, alongside our premier partner DP World.”

Reem Al Hashimy, UAE Minister of State for International Cooperation and director general of Expo 2020 Dubai