It is awarded annually to those who have "done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congress".
[3] The institute works in making the rules of international law, abolishing causes and motives of war and violence, and developing guidelines for peaceful relations between sovereign states.
The International Committee of the Red Cross is the most honoured organization for the prize and one of the most widely recognized organizations in the world, having won three Nobel Peace Prizes (in 1917, 1944, and 1963).
[2] The third time it won, the prize was shared with the League of Red Cross Societies.
As of October 2024, the Peace Prize has been awarded to 28 organizations: Institute of International Law (1904), Permanent International Peace Bureau (1910), International Committee of the Red Cross (1917, 1944 and 1963), Nansen International Office for Refugees (1938), Friends Service Council and American Friends Service Committee (1947), United Nations High Commissioner for Refugees (1954 and 1981), League of Red Cross Societies (1963), United Nations Children's Fund (1965), International Labour Organization (1969), Amnesty International (1977), International Physicians for the Prevention of Nuclear War (1985), United Nations Peace-Keeping Forces (1988), Pugwash Conferences on Science and World Affairs (1995), International Campaign to Ban Landmines (1997), Médecins Sans Frontières (1999), United Nations (2001), International Atomic Energy Agency (2005), Grameen Bank (2006), Intergovernmental Panel on Climate Change (2007), European Union (2012), Organisation for the Prohibition of Chemical Weapons (2013), Tunisian National Dialogue Quartet (2015), International Campaign to Abolish Nuclear Weapons (2017), World Food Programme (2020), Memorial and Center for Civil Liberties (2022) and Nihon Hidankyo (2024).