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The Sverdrup Gold Medal is granted to researchers who make outstanding contributions to the scientific knowledge of interactions between the oceans and the atmosphere, interactions between the oceans and the cryosphere, or ocean biogeochemistry. Ocean biogeochemistry involves the study of processes affecting the distribution, fluxes, and fate of nutrients, carbon, trace elements, and other chemical compounds, including trace gases, in the oceanic environment.

Nominations are considered by the Oceanographic Research Awards Committee, which makes a recommendation for final approval by AMS Council.