Medical responsibility in the climate crisis-the investment strategies of German Doctors’ pension funds: a conflict between ethics and monetisation

Abstract

Energy production from fossil resources is a major contributor to the anthropogenic climate crisis. Many international medical organisations have therefore called for divestment, i.e., the withdrawal of capital from these industries. The capital investments of the physicians’ pension funds in Germany amount to approximately 110 billion euros. Due to a lack of transparency, it is unclear to what extent environmental, social and governance criteria are applied to the allocation of investments. To protect human health, the climate impact of investments must be measured regularly and quantitatively (climate impact analysis). In addition, climate-related risks with respect to the returns on investment should be considered (climate risk analysis), when entire industrial sectors have to be re-organised. To ecologically and economically track the pathway to a zero-emission-portfolio, the outcome must be transparent for both the members and the public. This article summarises controversial issues discussed in this context with a focus on the situation and recent developments in Germany. Page 44 Schmiemann et al. One Health Implement Res 2021;2:43-50 https://dx.doi.org/10.20517/ohir.2021.04