1. Fossil Fuels Divestment & Medical Professionals: How AMA’s New Policy Can Work for You
Todd L Sack MD FACP
Jacksonville, Florida
August, 2018

2. Todd L Sack, MD, FACP tsack8@gmail.com 904-403-6446
Fossil Fuels Divestment & Medical Professionals
Todd L Sack, MD, FACP
~ I have no financial interests or disclosures ~
Weather and climate change play a significant role in our health and well-being. I’m going to discuss some health issues related to waterborne infectious disease.
There are an estimated million outbreaks of endemic waterborne disease annually in the US., with many of the infectious agents not identified….so probably a much bigger problem.

4. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.”
Rev. Desmond Tutu

5. Divestment & Health Professionals
Why divest? Clara Vondrich,
Fossil fuels are simply bad investments
Investment diversification does not require fossil fuels
The fossil fuels industry’s disinformation campaign
Opportunities of renewable energy & energy efficiency
Climate change & human health
AMA’s experience and your organizations
After your divestment decision
Resources

6. Climate change is the #1 public health threat of the 21st Century.

7. Climate Change and Human Health
Catastrophic storms
Extreme heat events
Air pollution
Flooding, drought, fires
Population displacements
Vector-borne diseases
Malnutrition & famine
Political instability

8. Air pollution: Our Most Vulnerable Patients
Neonatal brain development
Childhood asthma
Allergies (pollens, smoke, particulates, toxins)
Heart disease
COPD
Mental health & well-being
Malignancies

9. AMA’s Divestment Policy Timetable (https://www. ama-assn
1989: Stewardship of the environment
1990: Spokespersons for environmental stewardship
1996: Divestment of tobacco company holdings
2001: Social contract with humanity
2008: Global climate change & human health
2010: Greenhouse gas regulation by U.S. EPA
2016: Advocacy on environmental sustainability & climate change
2017: Fossil fuels divestment: referred for study
2018: Fossil fuels divestment: adopted

10. A Family of Policies for Your Organization
An environmentally-sustainable organization
Wise vendor selection
Teaching members environmentally sustainability
Educating on climate change and health
Emphasis upon vulnerable communities
Fossil fuels divestment

11. “AMA to Protect Human Health From the Effects of Climate Change by Ending Its Investments in Fossil Fuel Companies”
Submitted by AAPHP. Adopted June, 2018
commitment to divest
“in a timely, incremental, fiscally responsible manner, to the extent allowed by their legal and fiduciary duties”
choose vendors with “environmental sustainability practices”
create policy analyses & CME programs, support physicians, teach legislators, assist physicians & other health organizations with divestment decisions

12. “AMA to Protect Human Health From the Effects of Climate Change by Ending Its Investments in Fossil Fuel Companies”
1. The American Medical Association, AMA Foundation, and any affiliated corporations will work in a timely, incremental, and fiscally responsible manner, to the extent allowed by their legal and fiduciary duties, to end all financial investments or relationships (divestment) with companies that generate the majority of their income from the exploration for, production of, transportation of, or sale of fossil fuels; and 2. The AMA will choose for its commercial relationships, when fiscally responsible, vendors, suppliers, and corporations that have demonstrated environmental sustainability practices that seek to minimize their fossil fuels consumption; and 3. The AMA will support efforts of physicians and other health professional associations to proceed with divestment, including to create policy analyses, support continuing medical education, and to inform our patients, the public, legislators, and government policy makers. Adopted June, 2018

13. After Your Divestment Decision
What values are important to your organization?
coal only? all fossil fuels? renewables? ESG?
Who will give instructions to your fund managers?
Who will monitor your fund managers?
Who will report back to the membership?
How will you assist your members?

14. Divestment Resources Your fund managers and financial planners
Divestinvest.org
Fossilfreefunds.org
Gofossilfree.org/top-200/
Sriwelthmanagement.com
Ethoetf.com/fund/
Many others

15. Todd L Sack MD FACP tsack8@gmail.com 904-403-6446
Fossil Fuels Divestment & Medical Professionals: How AMA’s New Policy Can Work for You: “Thank you!”
Todd L Sack MD FACP

17. Fiduciary Arguments: Bad Investments (bad for your organization AND your members)
Fossil fuels are the worst performing sector for the past
one-, five-, & ten-year periods
Coal Index value is down 60% since 2008
France, Netherlands, Norway, & China have time-tables for banning fossil-fuel vehicles
Many fossil fuel reserves will remain in the earth as “stranded assets”
Better investments are in renewable energy
& energy efficiency

18. Fiduciary Arguments: Portfolio Diversification
Modern Portfolio Theory emphasizes diversification to lower risk
Fossil fuel stocks & bonds comprise just 6-9% of US markets
Removing any single sector of this size has a negligible impact
Removing fossil fuels should increase long term returns