Business Desk :
Merchant Bay, which has over 700 factories now on board its leading marketplace for garment factories, has signed an agreement with PrimaDollar for adding the Factory Social Scores system to its portal.
The Factory Social Score system is a global solution to monitor the social and governance performance of workplaces – part of the worldwide initiative to improve Environmental, Social, and Governance (ESG) metrics.
Designed in Bangladesh and London, this is a new class of data called “Real-time ESG” data, which is powering a new wave of initiatives to deliver environmental, social, and governance change across world markets.
Abrar Hossain Sayem, CEO of Merchant Bay, said: “Adding Factory Social Scores is a great value-addition for us. Factories will be able to demonstrate their social and governance credentials via PrimaDollar’s technology, delivering real-time ESG data directly to the factory profile in our system.”
He added that buyers are very focused on ESG issues right now and this further establishes Merchant Bay’s credentials as the go-to platform for the Bangladeshi garment industry.
“We get hundreds of buyers visiting our platform and through this score we can help them decide on considering new factories to start working with,” Sayem further said.
Tim Nicolle, group CEO of PrimaDollar, commented from London that they are delighted to be working with the Merchant Bay team.
“They have built an impressive and useful system which is growing very quickly. Our Factory Social Score is being rolled out by major international brands and retailers across their international supply chains. The willingness of Bangladeshi factory owners to take the lead in this area demonstrates significant confidence in their ESG credentials,” Nicolle added.
Munawar Uddin, country manager of the PrimaDollar Liaison office in Dhaka, said the Merchant Bay team has been very focused on ESG and has been quick to drive discussions forward.
“This will be an important initiative for Bangladesh and we are looking forward to long and close working relationship,” he added.
