The prize will be awarded annually from 2021 to 2030 to five individuals or organisations who create impactful and sustainable solutions addressing the planet's environmental challenges.

[15] Christiana Figueres, David Fein, Tokunboh Ishamael, M. Sanjayan, Jason Knauf, Zoë Ware and Jean-Christophe Gray were also appointed to the board of trustees in the same month.

[26] The Earthshot Prize Council comprises global ambassadors from a range of sectors dedicated towards positive action in the environmental space.

[25] The fourteen members are Prince William, Queen Rania of Jordan, the actress Cate Blanchett, David Attenborough, Ernest Gibson, the environmental activist Hindou Oumarou Ibrahim, the business executive Indra Nooyi, the climate activist Luisa Neubauer, the former astronaut Naoko Yamazaki, the economist Ngozi Okonjo-Iweala, the fashion designer Stella McCartney, the chef and restaurateur José Andrés, the environmentalist Wanjira Mathai, and the indigenous activist Nemonte Nenquimo who select the winners in a judging session led by Christiana Figueres.

[29][30] Former members include the footballer Dani Alves, the singer Shakira, the businessman Jack Ma and the basketball executive Yao Ming.

[33] The conservationist and television personality Robert Irwin and the actress Nomzamo Mbatha were named as global ambassadors of the prize in September 2024.

[38] In December 2024, William appeared in a documentary titled The Earthshot Report, produced by the BBC Studios and presented by the actress Hannah Waddingham, which underscored the impact and progress of the Prize's finalists.

[39] It was announced in September 2021 that the Earthshot Prize Global Alliance—consisting of companies such as Arup, Bloomberg L.P., Deloitte, Herbert Smith Freehills, Hitachi, the INGKA Group, Microsoft, MultiChoice, Natura & Co, Safaricom, Salesforce, Unilever, Vodacom, and Walmart—will help "scale up" ideas submitted by the inaugural 15 finalists.

[40] A nine-month Fellowship Programme was launched in 2022 to help the finalists develop more ideas by forming partnerships with various businesses and organisations that are part of the Earthshot Prize Global Alliance.

[49] All of the guests were advised to choose environmentally appropriate outfits which included wearing clothes made from sustainable materials, such as organic cotton, recycled fabrics, and second-hand items.

[63] Clara Amfo and Daniel Dae Kim hosted the event while the awards were presented by the Princess of Wales, the footballer David Beckham, the actor Rami Malek, and the actresses Catherine O'Hara and Shailene Woodley.

[68] In August that year, celebrities including Olivia Colman, Dame Emma Thompson, and Chris Packham signed a letter urging Prince William to add a vegan category, warning that without a transition to plant-based diets the planet cannot be preserved.

[69] The actress Hannah Waddingham and the actor Sterling K. Brown hosted the awards ceremony while the pop stars Bastille, OneRepublic and Bebe Rexha gave musical performances.

[76] The models Heidi Klum and Winnie Harlow, the actresses Nina Dobrev and Nomzamo Mbatha, the wildlife conservationist Robert Irwin, and the rapper Tobe Nwigwe took turns in introducing the winners of the five categories.

[75] On 4 November, Prince William met with young environmentalists upon arriving in Cape Town as part of the prize's inaugural Climate Leaders Youth Program.