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Domestic market capitalization
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Tehran Stock Exchange

Name Tehran Stock Exchange
Country Iran (Islamic Republic of)
Number of listed companies 331
Domestic market capitalization 270000 million US$
SSE Partner Exchange Yes
Has annual sustainability report No

The companies in Iran’s capital market, including Tehran Stock Exchange (TSE) – a self-listed company, are encouraged on a voluntary basis to provide their sustainability report to the general meetings of shareholders. The documents, if released, are also provided on Codal platform, the official disclosure website in our market.
ESG reporting required as a listing rule No

TSE’s new listing rules have been proposed by the Exchange to the market’s regulator – Securities and Exchange Organization – for its review and final approval. Once ratified, it includes updated and more inclusive regulations for observing the corporate governance standards, as well as formation of a new premier board for the blue-chips with advanced adherence to such standards.

Has written guidance on ESG reporting No

The directive for corporate governance is ratified and announced for implementation by the regulator, with a one-year period of groundwork.

https://codal.ir/Reports/Attachment.aspx?LetterSerial=U6EQCUiBsyw4B4WsBOi1pQ%3d%3d

Offers ESG related training No

In order to implement the new regulations, TSE provides training sessions, as well as a questionnaire to help its listed companies’ compliance. It includes disclosure, board committees’ structures, shareholders’ rights and complaints.

Market covered by sustainability-related index No

TSE has started since last year to collect the listed companies’ self-assessments and disclosures on corporate governance issues to provide the CG grade. With more data accumulated, introducing related indices will be applicable.

Has sustainability bond listing segment No

Has SME listing platform Yes

The SMEs are eligible to be listed in a regulated market with less stringent though transparent and supportive standards. The market is Iran Fara Bourse (IFB), in which TSE has 20% stakes.

Additional information
Organizational model of stock exchange
Listed (self-listed exchange)

Regulatory bodies
Securities and Exchange Organization (of Iran)

https://en.seo.ir/

Regulatory model
Limited exchange SRO

About the stock exchange
TSE’s profile: https://tse.ir/cms/Page55.html

Our history: https://tse.ir/cms/Page56.html

The legal structure: https://tse.ir/cms/Page57.html

TSE’s chart of organization: https://tse.ir/cms/Page58.html

Stock Exchange Database Criteria

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.

Field

Criteria Considered

Conducts business in Country or Market in which the stock exchange operates
Number of listed companies (Date updated) Updated either by the stock exchange directly or using WFE data
Domestic market capitalization  Updated either by the stock exchange directly or using WFE data
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.