Desk Report: Merchant Bay has signed an agreement with PrimaDollar to add Factory Social Scores to its leading marketplace for the garment factories of Bangladesh. Merchant Bay, which has over 700 factories now on board its leading marketplace for garment factories.
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.
“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.said, Abrar Hossain Sayem, CEO of Merchant Bay
Customers 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,added Abrar Hossain Sayem
“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. Munawar Uddin, Country Manager of the PrimaDollar , said the Merchant Bay team has been very focused on ESG and has been quick to drive discussions forward.
Abrar H Sayem , CEO, Merchant Bay; Munawar Uddin , Country Manager, PrimaDollar. Mahmood Hossain Sakib, COO, Merchant Bay; Sakib Ahmed, CGO, Merchant Bay were present at the signing ceremony .