# Factbox-How does the Nobel Peace Prize work? Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-10-03 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: 2022 Nobel Peace Prize Winner Announcement Details Revealed Meta Description: Learn about the criteria for winning the Nobel Peace Prize, the selection process, and popular nominees like Greta Thunberg and Alexei Navalny. URL: https://financedigest.com/factbox-how-does-the-nobel-peace-prize-workhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-10-03t091559z1lynxmpei920errtroptp4nobel-prize-peace-1736815105773-compressed.jpg) By Gwladys Fouche OSLO (Reuters) – The winner of the 2022 Nobel Peace Prize will be announced on Oct. 7 in Oslo. Here is a look at how the award works: WHO CAN WIN? The prize should go to the person “who has done the most or best to [advance fellowship](https://www.financedigest.com/seyfarth-and-metlife-announce-new-fellowship-to-advance-diversity.html "Seyfarth and MetLife Announce New Fellowship to Advance Diversity") among nations, the abolition or reduction of standing armies, and the establishment and promotion of peace congresses”, according to the will of Swedish industrialist Alfred Nobel, the inventor of dynamite, who founded the awards. Thousands of people can propose names: members of governments and parliaments; current heads of state; university professors of history, social sciences, law and philosophy; and former [Nobel Peace Prize](https://www.financedigest.com/nobel-medicine-prize-goes-to-explorer-of-ancient-dna.html "Nobel medicine prize goes to explorer of ancient DNA") laureates, among others. This year there are 343 nominees, although the full list will be kept locked [away in a vault for 50 years](https://www.financedigest.com/heathrow-airport-says-return-to-pre-pandemic-demand-years-away.html "Heathrow Airport says return to pre-pandemic demand years away"). Among oddsmakers’ favourites this [year are the Kyiv Independent](https://www.financedigest.com/independent-study-finds-infinidat-storage-can-provide-customers-125-roi-over-three-years-and-payback-in-less-than-six-months.html "Independent Study Finds INFINIDAT Storage Can Provide Customers 125% ROI Over Three Years and Payback in Less than Six Months") newspaper, Ukrainian President Volodymyr Zelenskiy and the United Nations’ refugee agency (UNHCR). WHO DECIDES? The Norwegian Nobel Committee, which consists of five individuals appointed by the Norwegian parliament. Members are often retired politicians, but not always. The current committee is led by a lawyer and includes an academic. They are all [put forward by Norwegian political parties and their appointments reflect the balance of power](https://www.financedigest.com/new-research-from-impact-com-shows-shifting-power-dynamic-that-puts-influencers-at-the-centre-of-the-brand-consumer-relationship.html "New Research from impact.com Shows Shifting Power Dynamic that Puts Influencers at the Centre of the Brand-Consumer Relationship") in Norway’s parliament. HOW DO THEY DECIDE? Nominations close on Jan. 31. Members of the committee can make their own nominations no later than at the first meeting of the committee in February. They discuss all the nominations, then establish a shortlist. Each nominee is then assessed and examined by a [group of permanent advisers and other experts](https://www.financedigest.com/james-trainor-top-fbi-cyber-expert-joins-aons-cyber-solutions-group.html "James Trainor, top FBI cyber expert, joins Aon’s Cyber Solutions Group"). The committee [meets roughly once a month to discuss](https://www.financedigest.com/new-zealand-pm-meets-biden-to-discuss-u-s-indo-pacific-strategy.html "New Zealand PM meets Biden to discuss U.S. Indo-Pacific strategy") the nominations. They usually make their decision at the final committee meeting, which tends to be at the beginning of October. The committee seeks a consensus on its selection. If it can’t, the decision is [reached by majority](https://www.financedigest.com/deutsche-telekom-reaches-majority-stake-in-t-mobile-u-s-ceo.html "Deutsche Telekom reaches majority stake in T-Mobile U.S. – CEO") vote. The last time a member quit in protest was in 1994, when Palestinian [leader Yasser Arafat shared](https://www.financedigest.com/young-leaders-forum-niamh-corbett-shares-her-top-5-tips.html "Young Leaders Forum: Niamh Corbett shares her top 5 tips") the prize with Israel’s Shimon Peres and Yitzhak Rabin. WHO IS NOMINATED? While the full [list of nominations is kept secret](https://www.financedigest.com/the-secret-to-academic-success-colouring-in-oxford-and-cambridge-residents-top-the-list-of-crayon-wielding-adults.html "The secret to academic success? Colouring in! Oxford and Cambridge residents top the list of crayon wielding adults"), nominators are free to disclose them. In recent years, Norway’s own lawmakers have tended to release names of their nominees in advance, with a [run of success:](https://www.financedigest.com/the-key-to-running-a-successful-wellness-business-according-to-the-experts.html "The Key To Running A Successful Wellness Business, According To The Experts") seven of the last nine winners appeared on those lists. This year, according to a Reuters survey of Norwegian lawmakers who have disclosed their nominees, the [list includes](https://www.financedigest.com/veraviews-included-on-iab-global-vendor-list.html "VeraViews Included on IAB Global Vendor List") Sweden’s Greta Thunberg and Fridays for Future, Belarus dissidents Sviatlana Tsikhanouskaya, Maria Kolesnikova and Veronika Tsepkalo. They have also nominated Russia’s Alexei Navalny, Pope Francis, British nature broadcaster David Attenborough, Tuvalu’s foreign minister Simon Kofe and the [World Health](https://www.financedigest.com/breaking-the-stigma-men-and-mental-health-in-the-world-of-investments.html "Breaking the Stigma: Men and Mental Health in the World of Investments") Organization. WHAT DOES THE LAUREATE GET? A medal, a diploma, ten million [Swedish crowns](https://www.financedigest.com/dollar-edges-down-from-six-week-peak-swedish-crown-jumps.html "Dollar edges down from six-week peak, Swedish crown jumps") ($900,000) – and immediate global attention. [South African](https://www.financedigest.com/south-african-citrus-growers-say-eu-pest-rules-putting-squeeze-on-exports.html "South African citrus growers say EU pest rules putting squeeze on exports") Archbishop Desmond Tutu, the 1984 laureate, has said becoming a Nobel laureate was a double-edged sword. “One day no one was listening. The next, I was an oracle,” he is quoted as saying in his authorised biography. WHEN ARE THE ANNOUNCEMENT AND THE CEREMONY? The announcement will be made at 1100 CET (0900 GMT) on Friday at the Norwegian Nobel Institute in Oslo by the [chair of the Norwegian Nobel Committee](https://www.financedigest.com/us-house-committee-chair-concerned-by-tesla-deals-in-china.html "US House committee chair ‘concerned’ by Tesla deals in China"), Berit Reiss-Andersen. The ceremony will take [place at the Oslo City](https://www.financedigest.com/downsizers-in-the-big-city-why-wembley-park-is-the-place-to-be-for-those-who-want-more-for-less.html "Downsizers in the big city – why Wembley Park is the place to be for those who want more for less  ") Hall on Dec. 10, the [anniversary of Alfred Nobel’s death](https://www.financedigest.com/prince-harry-hopes-diana-death-anniversary-will-be-filled-with-memories.html "Prince Harry hopes Diana death anniversary will be ‘filled with memories’"). ($1 = 11.1081 [Swedish crowns)](https://www.financedigest.com/u-s-dollar-gains-ahead-of-fed-swedish-crown-falls-after-hike.html "U.S. dollar gains ahead of Fed; Swedish crown falls after hike") (Compiled by Gwladys Fouche, Editing by William Maclean) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---