For investors who share our values, we generate financial returns with impact, transparently reporting emissions reductions and aligning investment goals with your sustainability objectives.
PROW is a value-based alternative credit manager providing asset-backed debt solutions. We seek opportunities that generate solid risk-adjusted returns, characterized by recurring and resilient cash flows structured around downside protection. PROW provides debt financing for real assets that create sustainable value for our stakeholders.
Partners of PROW make a significant personal investment in its funds, which create robust alignment that positively influences the outcome of our investments. We’re able to identify opportunities that generate strong financial returns in sectors that make an impact in tackling climate change.
Against a backdrop of worldwide deleveraging, retrenchment of banks and increased regulation, we see an increasing number of opportunities to deploy capital with less competition and greater selectivity. Each investment will be the result of a rigorous, rating-based credit acceptance process, ensuring a balanced and diversified portfolio.
Our Green Shipping Fund will generate significant emissions savings and an attractive risk adjusted financial return. Whilst shipping remains one of the greenest forms of transportation per tonne mile, responsible for the movement of approx. 90% of the world’s goods, greenhouse gas emissions by the shipping industry exceed 1 billion tonnes per annum. The Green Shipping Fund provides investments with impact, generating strong returns and supporting your corporate, social and environmental commitments.
We monitor and report emissions reductions from your investments, externally validated and measured on a real-time basis, giving you reliable and verified data for your ESG reporting.
Article 9 - SFDR description
The European Sustainable Financial Disclosure Regulation (hereafter "SFDR") and amending Regulation (EU) 2020/852 (hereafter "Taxonomy Regulation") as relevant since March 10 2021 requires Prow Capital to inform investors regarding the incorporation of sustainability aspects whilst investing, and report on sustainability impact of the Fund. Sustainability aspects include but are not limited to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters. In this manner sustainable investing will be promoted by the EU.
The EU Sustainable Finance Disclosure Regulation (EU 2019/2088SFDR) is set up to provide better transparency on sustainability risk, adverse sustainability impacts and other sustainability-related information to end clients of financial intermediaries. The SFDR entered into force as of 10 March 2021.
The EU Taxonomy Regulation (EU 2018/0178, Taxonomy Regulation) is about introducing harmonised criteria to determine whether an economic activity is environmentally sustainable. The goal is for investors to better understand the degree and proportion of environmental sustainability in their investments. The Taxonomy Regulation will partly enter into effect as of 1 January 2022.
Prow Capital, as manager of the Green Shipping Fund, is subject to these regulations and qualifies as an Article 9 Fund under the SFDR (article 9.3):
“Where a financial product has a reduction in carbon emissions as its objective, the information to be disclosed pursuant to Article 6(1) and (3) shall include the objective of low carbon emission exposure in view of achieving the long- term global warming objectives of the Paris Agreement.”
Our SFDR policy–available upon request–describes our approach as required in articles 9 of the SFDR.
Prow Capital integrates sustainability risk in its investment decisions. The Green Shipping Fund (GSF), managed by Prow Capital, provides frontrunners in the EU maritime industry with asset-backed debt funding to accelerate the transition towards a zero emissions shipping industry, in order to help achieve the climate goals of the Paris Agreement and the European Green Deal. GSF only finances ships that will measurably contribute to achieving the International Maritime Organisation (IMO) GHG reduction goals by focusing on energy efficiency, operational efficiency, and the use of cleaner fuels.
Prow Capital will identify and assess principal adverse environmental and/or social impact effects of investments in its investment decisions by way of using pre-defined criteria in the investment process that investments need to meet.
The first step conducted by the GSF is to establish the eligibility of the ship. This is the process by which we determine whether its characteristics fit the GSF eligibility criteria and long term reduction goals of the IMO and the alignment with EU Taxonomy. Providing the ship is deemed eligible, the next step is to initiate the ESG due diligence process. Step 3 is the development of a Green Score card which will cover the environmental aspects of the ship. Finally, step 4 is to monitor, report, and validate (MRV) emission reductions.
GSF will not support ship owners who use HFO in combination with installation of open loop Scrubbers. Ships that are 100% dedicated to the transportation of fossil fuels are also excluded from financing. This process is further elaborated in the ESG Policy, available upon request. Prow Capital has further adopted a specific the Anti-Bribery & Anti-Corruption Policy, available upon request.
The remuneration of all key employees of the fund is aligned with the ESG objectives of the Green Shipping Fund.
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Climate change
The biggest challenge and thus opportunity
We are an investment management company with a difference. Driven by the scale of the impact we can make, PROW Capital manages and raises funds to provide asset backed finance solutions to innovative sustainability leaders who share our values.
