The award was created to recognize initiatives for fighting poverty and for preserving biodiversity along the Earth's equatorial belt. The aim is promote successful and innovative formulas.

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Indigenous groups, community-based organizations, local non-governmental organizations and local entrepreneurial initiatives and biological reserves may be nominated for the prize, which will be awarded during the World Summit on Sustainable Development, in Johannesburg, South Africa (Aug 24-Sep 4).

The greatest concentration of the world’s biological wealth is found in developing countries in tropical areas, located within 23.5 degrees of the Equator, says the UNDP. But these countries become increasingly poor the more they lose their biodiversity.

The award seeks to promote innovative and effective projects that involve the local community in making sustainable use of their biological resources while fighting poverty.