Inside the Nobel Peace Prize: Process, Favorites, and Anticipation

The Nobel Peace Prize aims to honor those advancing peace and fellowship among nations. Overseen by a committee in Norway, it has 286 nominees this year. High-profile figures like Volodymyr Zelenskiy are unlikely picks due to wartime roles. The winner receives a medal, diploma, and significant financial reward.

The winner of the 2024 Nobel Peace Prize is set to be announced on Friday, October 11, in Oslo. The prestigious award, rooted in the will of Swedish industrialist Alfred Nobel, aims to acknowledge those who foster peace and international fellowship.

This year, there are 286 nominees, including potential candidates like Ukraine's Volodymyr Zelenskiy, though wartime leaders typically do not win. The process of deciding the laureate rests with the Norwegian Nobel Committee, comprising five members appointed by Norway's parliament. Selections are based on consensus or majority vote among committee members.

The winner will receive a medal, a diploma, and a financial prize amounting to 11 million Swedish crowns. The announcement will take place at the Norwegian Nobel Institute in Oslo, with a ceremony following on December 10, marking the anniversary of Nobel's death.

(With inputs from agencies.)