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Economists Partha Dasgupta of the University of Cambridge and Jeffrey Sachs of Columbia University were awarded the 2015 international Blue Planet Prize by the Asahi Glass Foundation on Thursday.

The foundation said Dasgupta was recognized for his contributions to integrating welfare economics and environmental economics. Sachs was credited for contributing to helping economies overcome crises and achieve sustainable development.

The Blue Planet Prize has been awarded annually since 1992. This year’s winners will receive a certificate of merit, a commemorative trophy and ¥50 million at a ceremony on Oct. 14 in Tokyo.