Today, December 10 is the day when the Nobel Peace Prize will be awarded jointly to India’s save-child activist Kailsash Satyarthi and Pakistan girl-child education activist Malala Yousafzai will receive the Nobel Peace Prize. Despite Malala’s appeal, Pakistan Prime Minister Nawz Sharif nor Indian Prime Minister Narendra Modi will be present during the award ceremony.
Since its inception in 1901, the Nobel Peace Prize has been awarded 567 times to 864 Laureates and 25 organisations but capping them all, Malala would be the youngest winner ever of the global peace prize aged 17 years. The youngest recipient of the prize till now was Lawrence Bragg for the Physics Nobel in 1915 at the age of 25.
The prize money is from the wealth bequethed by dynamite inventor Alfred Nobel on 27 November 1895, giving his fortune in will and testament to global prizes in Physics, Chemistry, Physiology or Medicine, Literature and Peace. The prize in Economics was added in 1968 by the Swedish central bank Sveriges Riksbank.
The statute of the Nobel Foundation says, “If none of the works under consideration is found to be of the importance indicated in the first paragraph, the prize money shall be reserved until the following year.” If, even then, the prize cannot be awarded, the amount shall be added to the Foundation’s “restricted funds.”
Every year the award ceremonies are held on December 10 and the laureates are awarded a Nobel Diploma, a Nobel Medal and a document confirming the Nobel Prize amount. The amount this year is for 2014 Swedish kronor (SEK) 8.0 million per full Nobel Prize.
The Peace Prize can be awarded to a maximum of three Laureates and the Norwegian Nobel Committee begins the whole process by inviting nominations to be reached by February 1 each year.
Present and past members of the Nobel Committee and advisers at the Nobel Institute; members of national assemblies and governments, and members of the Inter-Parliamentary Union; members of the Permanent Court of Arbitration and the International Court of Justice at the Hague and members of the Commission of the Permanent International Peace Bureau constitute the body to recommend or nominate contenders for the covetous prize.
In addition, members of the Institut de Droit International and present university professors of law, political science, history and philosophy; and holders of the Nobel Peace Prize can also nominate.
After review, a shortlist will be prepared and the final decision of the panel will be announced on a Friday in the first or second week of October. The award ceremony will be held on December 10.
Did You Know?
95 – Nobel Peace Prizes have been awarded between 1901 and 2014.
2 – Peace Prizes have been divided between three persons.
16 – women have been awarded the Nobel Peace Prize so far.
62 – The average age of the Nobel Peace Prize Laureates the year they were awarded the prize.
1 – Peace Prize Laureate, Le Duc Tho, has declined the Nobel Peace Prize.
3 – Peace Prize Laureates have been under arrest at the time of the award include German pacifist and journalist Carl von Ossietzky, Burmese politician Aung San Suu Kyi and Chinese human rights activist Liu Xiaobo.