Ban Ki-moon, deputy chair of The Elders and former U.N. secretary-general, speaks at the inaugural Miwon Peace Prize ceremony in Kyung Hee University, Seoul, Nov. 29. Courtesy of Kyung Hee University

The Elders, a London-based organization that promotes human rights and the protection of the environment, received the inaugural Miwon Peace Prize for its dedication to fighting threats to peace worldwide.

According to officials at Kyung Hee University, Thursday, the award ceremony was held at its Seoul campus on Nov. 29. There, Choue In-won, chancellor of the school, congratulated the group on winning the honor and asked for its continuous efforts to make a more sustainable and peaceful world for all humanity.

"We need a new way of looking at reality and a new consciousness as global citizens. In the face of an existential crisis, it is more important than ever for humanity to have a common goal and to actively pave the way for earth consciousness and action," Choue said.

Founded by Nelson Mandela in 2007, The Elders consists of global leaders, peace advocates and human rights activists. Notable current members include former U.N. Secretary-General Ban Ki-moon and Juan Manuel Santos, former president of Colombia and Nobel Peace laureate.

"We are witnessing a global explosion of conflicts, atrocity crimes and impunity, from Gaza to Ukraine, Sudan to Myanmar and countless other countries," Ban said after receiving the prize on behalf of the organization as its deputy chair.

"Multilateralism remains our greatest hope for averting catastrophe, safeguarding our collective future and delivering the just outcomes the world needs. This is why securing a functioning and effective rules-based multilateral system must be a priority for all member states of the United Nations."

The Miwon Peace Prize was established to honor the passion and vision of Miwon Choue Young-seek, founder of Kyung Hee University. As the winner, The Elders received a prize of $200,000 and a trophy.