The new Innovation Prize is open to those with entrepreneurial ideas on how to reduce carbon dioxide emissions through cleaning up transport to and from the airport, working towards the development of hybrid and electric aircraft and finding ways to capture and use carbon around the airport.
Applications for the Innovation Prize will be accepted until the 22nd of May.
The airport has also launched a ‘Centre of Excellence’, which aims to be a hub of sustainable learning – it will work with Brunel University London, Cranfield University, the University of Essex, the University of Reading and Royal Holloway, University of London.
These universities will be invited to pitch their own ideas for funding starting this summer.
Matt Gorman, Heathrow Director of Sustainability, said: “Climate change is the greatest threat facing our generation and it is imperative we take meaningful steps to address our impacts – and we need to make them quickly.
“Through the Centre of Excellence, and by partnering with top scientists we will continue to think radically about sustainability, translate ideas into action at Heathrow and across our industry.”