Stock exchanges
Number of listed companies
Domestic market capitalization
million US$

Moscow Exchange

Name Moscow Exchange
Country Russian Federation
Number of listed companies 832
Domestic market capitalization 517348.65 million US$
SSE Partner Exchange Yes
Has annual sustainability report Yes

  • Moscow Exchange’s 2019 Sustainability Report is the first non-financial report ever produced by the Company for the general interested public. The publication of this Report is an important milestone for Moscow Exchange, as it affirms their commitment to continuing the journey of sustainability and encouraging responsible business practices both within the Moscow Exchange Group and among our partners and issuers.
  • MOEX also has a Social Responsibility and Charity Section on website.
  • All sustainability reports can be found here

ESG reporting required as a listing rule No

Has written guidance on ESG reporting Yes

On 19 January 2022, Moscow Exchange announced an updated version of its ESG Guide, “A Guide for Issuers: How to Comply with Best Sustainability Practices”. (in Russian)

Offers ESG related training Yes

In 2021, the Moscow Exchange provided training on Climate-related Financial Disclosures (TCFD recommendations) in collaboration with the SSE, CDP and IFC. (source)

Market covered by sustainability-related index Yes

Has sustainability bond listing segment Yes

  • Updates to the Moscow Exchange Listing Rules taking effect on 12 August 2019 created a Sustainability Sector for financing projects in the fields of environmental and social sustainability. The new sector will consist of three independent segments: green bonds, social bonds and national projects.
  • The segments for green and social bonds are for Russian and international securities that meet requirements for a bond issue, issuer and investment project as set forth in the Green Bond Principles of the International Capital Market Association (ICMA) or the standards of the Climate Bonds Initiative (CBI). Whether a bond meets these requirements requires confirmation from an external review provider. This corresponds with the concept currently developed for green, social and sustainability bonds by the Russian Ministry of Economic Development, relevant government agencies, the Bank of Russia and business community. The concept will provide tax incentives for issuers and financial support from the Bank of Russia for investors (including provisioning benefits). The segment for national projects will include Russian and international bonds that meet the objectives of national projects such as “Environment”, “Demography” and “Public Health”.
  • On 12 November 2019, Moscow Exchange’s Sustainability Sector welcomed its first instrument – a green bond issued by Center-invest Bank.  The RUB 250 mln one-year bond will be offered on 15 November. The funds raised will be used to finance and refinance outstanding loans given to promote energy-saving initiatives, renewable energy sources and green transport.

Has SME listing platform Yes

Women on boards mandatory minimum rule No

Additional information
Organizational model of stock exchange
  • Listed company for profit; demutualized in 2011.

Regulatory bodies

Regulatory model
Government (Statutory) Model

  • The Bank of Russia Financial Markets Service, operated under the Central Bank of Russia, has full regulation, control and supervision of the financial markets. The Moscow Exchange does not appear to have any regulatory authority.

About the stock exchange
Location: Moscow, Russian Federation

  • Moscow Exchange is Russia’s largest securities exchange group. Established on 19 December 2011 with the merger of MICEX Group (created in 1992) and RTS Group (1995), it ranks among world’s top 20 exchanges by trading volume and total market cap of shares traded, and among the top 10 derivatives exchanges. Its participants enjoy the state of the art, hi tech infrastructure to trade stocks, bonds, currency, fund shares, ETFs, commodities (grain, gold, silver), and derivatives, including OTC. (Source).

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.


Criteria Considered

Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.