Sustainable use of renewable forest resources to serve society is the main focus and the Prize recognizes efficiency improvements, cost improvements, the opening of new markets and the underlying research.
The purpose of the Prize is to recognize, encourage and stimulate pathbreaking scientific achievements which contribute significantly to broadening knowledge and to technical development within the fields of importance to forestry and forest industries.
Dr. Marcus Wallenberg (1899-1982) held an outstanding and unique position in financial and industrial circles, both in Sweden and abroad.
He was managing director and subsequently chairman of Stockholms Enskilda Bank and later chairman and honorary chairman of Skandinaviska Enskilda Banken. He was chairman and honorary chairman of a number of Swedish and international organizations and companies. He was the most respected industrialist that Sweden ever had.
The Marcus Wallenberg Prize was instituted by Stora Kopparbergs Bergslags AB at its annual meeting in 1980 to commemorate the services rendered by Dr. Marcus Wallenberg during his long term as member and chairman of the Board of Directors.