diff --git a/Misc/ACKS b/Misc/ACKS
index 357ce024e9e..239d06ffd0b 100644
--- a/Misc/ACKS
+++ b/Misc/ACKS
@@ -733,6 +733,7 @@ Miro Hrončok
 Chiu-Hsiang Hsu
 Chih-Hao Huang
 Christian Hudon
+Benoît Hudson
 Lawrence Hudson
 Michael Hudson
 Jim Hugunin
diff --git a/Misc/NEWS.d/next/macOS/2019-08-23-12-14-34.bpo-37931.goYgQj.rst b/Misc/NEWS.d/next/macOS/2019-08-23-12-14-34.bpo-37931.goYgQj.rst
new file mode 100644
index 00000000000..45b54e89cb8
--- /dev/null
+++ b/Misc/NEWS.d/next/macOS/2019-08-23-12-14-34.bpo-37931.goYgQj.rst
@@ -0,0 +1,3 @@
+Fixed a crash on OSX dynamic builds that occurred when re-initializing the
+posix module after a Py_Finalize if the environment had changed since the
+previous `import posix`. Patch by Benoît Hudson.
diff --git a/Modules/posixmodule.c b/Modules/posixmodule.c
index 89854711373..322c2159812 100644
--- a/Modules/posixmodule.c
+++ b/Modules/posixmodule.c
@@ -1402,7 +1402,6 @@ win32_get_reparse_tag(HANDLE reparse_point_handle, ULONG *reparse_tag)
 ** man environ(7).
 */
 #include <crt_externs.h>
-static char **environ;
 #elif !defined(_MSC_VER) && (!defined(__WATCOMC__) || defined(__QNX__) || defined(__VXWORKS__))
 extern char **environ;
 #endif /* !_MSC_VER */
@@ -1420,15 +1419,16 @@ convertenviron(void)
     d = PyDict_New();
     if (d == NULL)
         return NULL;
-#if defined(WITH_NEXT_FRAMEWORK) || (defined(__APPLE__) && defined(Py_ENABLE_SHARED))
-    if (environ == NULL)
-        environ = *_NSGetEnviron();
-#endif
 #ifdef MS_WINDOWS
     /* _wenviron must be initialized in this way if the program is started
        through main() instead of wmain(). */
     _wgetenv(L"");
     e = _wenviron;
+#elif defined(WITH_NEXT_FRAMEWORK) || (defined(__APPLE__) && defined(Py_ENABLE_SHARED))
+    /* environ is not accessible as an extern in a shared object on OSX; use
+       _NSGetEnviron to resolve it. The value changes if you add environment
+       variables between calls to Py_Initialize, so don't cache the value. */
+    e = *_NSGetEnviron();
 #else
     e = environ;
 #endif