STATUTES

§ 1 Name and registered office
1. The association bears the name “Research Group on Sustainable Finance e.V.”. It shall be entered in the register of associations; after registration, the name shall be “Research Group on Sustainable Finance e.V.”.
2. The registered office of the association is Hamburg.
3. The financial year is the calendar year.

§ 2 Purpose of the association
1. The association pursues exclusively and directly charitable purposes within the meaning of the section “Tax-privileged purposes” of the German Tax Code. The purpose of the association is to promote science, research, and education (§52 (2) No. 1 AO) and to raise funds for the realization of this tax-privileged purpose through other tax-privileged corporations and public-law corporations. This is achieved through:

1. Promotion of scientific work and projects in the field of sustainable finance at the University of Hamburg and at scientific institutions associated with the University of Hamburg in research and/or teaching,

2. Dissemination of scientific findings at the national and international level,
3. Maintenance of contacts between research and practice.

2. This statutory purpose shall be achieved in particular through:
1. Provision of funds for research projects in the field of sustainable finance,
2. Provision of funds to improve teaching and research activities in the field of sustainable finance at the University of Hamburg,
3. Organization and implementation of conferences, seminars, and working groups,
4. Establishment and maintenance of scientific contacts in Germany and abroad.
5. Awarding scholarships to students to promote research activities.

3. The association is a non-profit organization. It does not primarily pursue its own economic interests. The association's funds may only be used for purposes specified in the statutes. Members do not receive any payments from the association's funds and have no share in the association's assets. No person may benefit from expenses that are not related to the purpose of the association or from disproportionately high remuneration.

§ 3 Membership
1. The association has “ordinary” and “extraordinary” members. Unlike ordinary members, extraordinary members do not have voting rights at general meetings and cannot be elected to the executive committee.
2. Only natural persons can become regular members. 3. All other natural or legal persons who agree with the association's objectives and are willing to support the association ideologically and/or financially can become extraordinary members (supporting members). 4. The board decides on the admission of regular and extraordinary members by a simple majority vote.

§ 4 Loss of membership
Membership shall expire:
1. upon resignation from the association,
2. upon expulsion from the association,
3. upon death or upon dissolution of the legal entity or association of persons.

§ 5 Resignation
Resignation from the association is permitted at the end of the fiscal year. It must be declared to the executive committee in writing with three months' notice.

§ 6 Expulsion
1. A member may be expelled from the association by the executive committee if they violate the interests of the association or otherwise jeopardize the realization of the association's purpose. Failure to pay membership fees despite two reminders also constitutes grounds for expulsion.

2. Before the decision is made, the member must be given the opportunity to comment on the expulsion.
3. The decision must be sent to the member in writing, stating the reasons. The member may appeal against the decision within two weeks of receiving it by submitting a written request to the executive committee. The next general meeting will then make a final decision on the expulsion.

§ 7 Membership fee
A membership fee is charged, which is payable by March 31 of each year. The amount of the fee is determined by the general meeting.

§ 8 Organs of the Association
1. The organs of the Association are the General Meeting and the Executive Board.
2. The organs perform their duties on a voluntary basis.

§ 9 Executive Board and Managing Director
1. The Executive Board consists of the Chair, the Deputy Chair, and at least one other member. If the full professors of the Research Group on Sustainable Finance at the University of Hamburg are not members of the Executive Board, they may participate in all Executive Board meetings in an advisory capacity.
2. The Executive Board is elected by the General Assembly for a term of two years. Re-election is permitted.

3. In the event of the premature departure of a member of the Executive Board, a replacement election shall be held at the next General Meeting. If all members of the Executive Board leave at the same time, a full professor from the Research Group on Sustainable Finance at the University of Hamburg shall take over as acting chair.
4. The Executive Board shall manage all activities of the Association. It shall decide on all matters that are not subject to resolution by the General Meeting.
5. The association may appoint one or more managing directors, who shall be appointed by the Executive Board. The managing directors may also be members of the Executive Board.
6. The Executive Board shall decide by majority vote. In the event of a tie, the chairperson shall have the casting vote.
7. Two members of the Executive Board shall be authorized to represent the association in and out of court.

8. The Executive Board may adopt rules of procedure.
9. The members of the Executive Board serve in an honorary capacity. They are entitled to reimbursement of expenses (expense allowance) in accordance with § 670 BGB (German Civil Code) for expenses incurred in the course of their work for the association.

§ 10 General Meeting
1. An ordinary general meeting shall be convened annually.
2. Extraordinary general meetings shall be convened if one quarter of the members or the majority of the executive committee request this in writing, stating the matter to be discussed.
3. The invitation to the general meeting shall be issued by the chairperson, or in their absence by the deputy chairperson, stating the agenda in writing or in text form (e.g., by email) with two weeks' notice. The day of dispatch and the day of the meeting shall not be included in the calculation of the notice period. The invitation shall be deemed to have been sent in good time if it is sent to the address last notified by the member in text form.
4. The general meeting is the supreme body of the association. It is responsible in particular for the following matters:

1. Election of the members of the Executive Board,
2. Appointment of the auditor,
3. Resolutions on amendments to the Articles of Association, the exclusion of members, and the dissolution of the Association,
4. Resolutions on the discharge of the Executive Board, 5. Resolutions on all questions submitted by members,
5. The chairperson, or alternatively the deputy chairperson or a chairperson elected by the general meeting, is responsible for chairing the general meeting.
6. A duly convened general meeting is quorate regardless of the number of members present.
7. Resolutions shall be passed by a simple majority of the votes cast. Resolutions on amendments to the Articles of Association, the exclusion of members, and the dissolution of the association require a two-thirds majority of the votes cast.
8. The resolutions shall be recorded in writing. The minutes shall be signed by the secretary and at least one member of the executive committee.

§ 11 Advisory Board
1. An advisory board may be formed to advise the association.
2. The members of the advisory board are appointed by the general meeting. The term of office is four years. Reappointment is possible.
3. The advisory board may adopt rules of procedure, which must be confirmed by the executive board.
4. The members of the advisory board work on a voluntary basis. They are entitled to reimbursement of expenses (expense allowance) in accordance with § 670 BGB (German Civil Code) for expenses incurred in the course of their work for the association.

§ 12 Dissolution
1. The association shall be dissolved by a resolution of the general meeting.
2. In the event of the dissolution of the association or the discontinuation of tax-privileged purposes, its assets shall fall to the donation account of the Research Group on Sustainable Finance at the University of Hamburg or to the corporate assets of the University of Hamburg. The respective recipient shall use the assets directly and exclusively for charitable purposes.