The British royal has teamed up with legendary broadcaster David Attenborough to launch the new initiative offering $65 million (£50million) over the next decade to those who instigate innovative projects that could save the planet.
On Thursday (08Oct20), he announced that Shakira and Cate will be among those judging prospective projects, alongside Queen Rania Al Abdulla of Jordan, Chinese basketball legend Yao Ming, and Brazilian soccer star Dani Alves.
In a video call with William, posted on YouTube, Shakira revealed her motivation for joining the judging panel - securing the future for the two kids she shares with Alves' one-time Barcelona teammate Gerard Pique.
"I personally feel it is my duty as a citizen, as a human being and as a mother of two young children to bring attention to this issue before it's too late," she said.
"Your children, my children, they have to find ways to reduce carbon emissions, to repair oceans, to clean the air - we need young minds to be informed and invested. That's why education is so important. We can't just stand still, we have to lead the way and we have to do it now."
Cate added, "There's no greater challenge facing us as species than tackling climate change."
The judges will award five $1.3 million (£1 million) prizes each year, enabling any inventor, official, entrepreneur, campaigner or scientist, to pursue an idea that could help stop the destruction of the planet.
Other members of the judging panel include David, Costa Rican diplomat Christiana Figueres, environmental activist Hindou Oumarou Ibrahim, Indian-American business executive Indra Nooyi, Chinese businessman Jack Ma, former Japanese astronaut Naoko Yamazaki, and Nigerian-born economist Dr. Ngozi Okonjo-Iweala.