The first award is to be presented at a ceremony on 20 July.

Between now and 24 March, nominations may be submitted of projects that contribute to reducing greenhouse gas emissions, increase resilience to the impacts of climate change, or raise public and private funds to help decarbonise the economy.

The foundation’s president, Isabel Mota, is quoted in the statement as saying that the award underscores its recognition of "the urgency of climate action".

The selection of candidates will be made by an external panel, divided into a Grand Jury to be chaired by Jorge Sampaio, a former president of Portugal, and a Committee of Specialists chaired by Miguel Bastos Araújo, a Portuguese scientist.

The final decision will be that of the Foundation, which will choose from a shortlist of nominees.

Applications can be submitted via a form on the foundation’s website at