The independent Volvo Environment Prize Foundation was instituted in 1988 to reward outstanding scientific discoveries or innovations broadly falling within the environmental sphere.

The Foundation’s Scientific Committee headed by Professor Carl Folke screens and evaluates candidates. These are then presented to the International Prize Jury which selects a laureate (or laureates) for recommendation to the Foundation’s board. 

A Steering Committee is responsible for the continuous development of the Prize?as well as financing and executive?decisions.