one of five Nobel Prizes
The Nobel Peace Prize is one of the five Nobel Prizes established by the will of Swedish industrialist, inventor, and armaments (military weapons and equipment) manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or Medicine, and Literature. Since March 1901, it has been awarded annually (with some exceptions) 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 congresses".In accordance with Alfred Nobel's will, the recipient is selected by the Norwegian Nobel Committee, a five-member committee appointed by the Parliament of Norway. The 2020 prize will be awarded in the Atrium of the University of Oslo, where it was also awarded 1947–1989; the Abel Prize is also awarded in the building. The prize was previously awarded in Oslo City Hall (1990–2019), the Norwegian Nobel Institute (1905–1946), and the Parliament (1901–1904).
Due to its political nature, the Nobel Peace Prize has, for most of its history, been the subject of numerous controversies.
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