THE 2022 SUSTAINABILITY REPORT
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Moscow Exchange (MOEX) published its fourth sustainability report (the “Report”) not later than
The Report also provides information on the mission and strategy of Moscow Exchange, management approaches, and key events in the reporting year. It sheds light on significant topics For detailed information on material topics, see the MOEX Group’s approach to materiality subsection. such as responsible investment, decent working conditions, sustainable financial infrastructure, financing, and corporate governance. Likewise, it describes the position of the Group regarding climate change, discerning use of resources, charity, and other environmental and social issues.
The Group publishes a sustainability report every year. The previous report was published in June of 2022.
In accordance with the Charter of the Moscow Exchange, the authority to approve the report is vested in the Executive Board.
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The 2022 Moscow Exchange Sustainability Report was made with professional assurance of FBK LLC, an independent auditor, to insure The audit was carried out in accordance with ISAE 3000 (revised): “Assurance Engagements Other than Audits or Reviews of Historical Financial Information”. that the qualitative and quantitative information contained in the Report is disclosed accordance with the GRI Standards and the SASB Security & Commodity Exchanges standard (for selected information). The auditor’s report, which provides limited assurance regarding selected information, is included as an appendix to this Report.
Structure of the Report
For the convenience of the Report’s users, the Group has decided to use a similar structure to that of its 2021 Sustainability Report; accordingly, there are three main sections: 2022 Sustainability Performance Highlights, Sustainability Data, Sustainability Approaches and Procedures. The appendices include Statements, GRI Content Index, SASB Metrics, Independent Auditor’s Report, Glossary, and Contact Details.
2022 Sustainability Performance Highlights
This section presents key initiatives and achievements of Moscow Exchange in 2022. These were implemented in line with the Group’s Sustainability Roadmap. The section also describes measures taken to apply ESG principles in accordance with the 2024 Group Strategy. The section contains information on Moscow Exchange’s plans and objectives for 2023 and in the midterm.
Sustainability Data
The section discloses the key metrics of the company’s sustainability performance in 2019, 2020, 2021 and 2022. The structure of this section corresponds to the 2022 Sustainability Performance Highlights section, as well as the Sustainability Approaches and Procedures section.
Sustainability Approaches and Procedures
This section provides information on the approach of Moscow Exchange at the management level to key areas of sustainable development (SD), including an overview of corporate policies, codes, procedures, and responsible departments. The information in this section supplements the 2022 Sustainability Performance Highlights section, the Sustainability Data section, and Moscow Exchange’s 2022 Annual Report.
Statements
Moscow Exchange Group supports a number of international initiatives and organisations; it shares their principles, integrating their requirements and recommendations into its activities. The Statements appendix outlines the Group’s position on a number of vital issues, including:
- Statement of Moscow Exchange on compliance with the principles of the UN Global Compact;
- Statement of Moscow Exchange on respect for human rights and counteracting modern slavery.
GRI content index
This index consolidates all the GRI disclosures published in the Report, allowing for easier navigation through its sections. It also contains remarks on the disclosures.
SASB metrics
This index includes metrics pertinent to the SASB Security & Commodity Exchanges standard.
Guidelines and standards used in preparing the Report
This Report was prepared in accordance with the GRI Standards: Core option; however, the requirements and recommendations of other standards and guidelines were taken into account as well. These include the WFE ESG Guidance & Metrics (2018), the SASB Security & Commodity Exchanges standard (2018), and the Task Force on Climate-related Financial Disclosures (2017).
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When preparing the 2022 Report the Group the following changes were made:
- the Sustainability Data section includes the volume and number of trades on the National Mercantile Exchange due to the inclusion of certain data of this subsidiary in the reporting perimeter;
- the share of percentage of trades generated from automated trading systems in the foreign exchange market indicator is calculated from the volumes in the spot foreign exchange market instead of calculating the share of the total volumes in the spot and swap segments of the foreign exchange market.
- The “Percentage of employees at the end of the year who passed a formalised performance assessment” indicator GRI 404-3 for 2022 was calculated from the number of all employees of the Moscow Exchange Group, and the same indicator for
2019–2021 was calculated from those employees who were assigned a formalised performance assessment, not including employees on parental leave, trainees and those laid off before the assessment is completed.
Reporting boundaries
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The reporting boundaries include the following entities of Moscow Exchange Group: Moscow Exchange, the National Settlement Depository (NSD), and the National Clearing Centre (NCC) and the National Mercantile Exchange (NAMEX).
The Report does not include seven other companies, the financial results of which are included in the consolidated financial statements of the Moscow Exchange Group, due to the fact that these companies employ less than 0.5% of the Group’s headcount.
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In this Report, “Moscow Exchange” and “MOEX” mean the organisation whose full corporate name as stated in its Charter is Public Joint-Stock Company Moscow Exchange MICEX-RTS. “Moscow Exchange Group”, or simply the “Group”, means the pool of companies that are part of Moscow Exchange Group; they fall within the scope of this Report.
Information about shareholders who own five or more percent of MOEX capital is included in the subsection “Genuine corporate governance and business ethics” of the section “2022 Sustainability Performance Highlights” of the current report.
The boundaries of the indicators are indicated in the Sustainability Data section. Any information that pertains to different combinations of subsidiaries is accompanied by appropriate disclaimers.
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The reporting information is disclosed within two reporting perimeters:
- the first perimeter comprises information pertinent to Moscow Exchange, NSD, NCC and NAMEX;
- the second perimeter comprises information pertinent to Moscow Exchange.