Next, the TFCR will turn its attention to developing supervisory practices to mitigate climate-related financial risks where there are potential gaps in the Basel framework.
Already, many banks are incorporating supervisory expectations with regard to management of climate-related risks in foreign jurisdictions, for instance from  Kevin J. Stiroh, “The Basel Committee’s Initiatives on Climate-Related Financial Risks,” remarks at the 2020 IIF Annual Membership Meeting,” October 14, 2020, https://www.bis.org/speeches/sp201014.htm. 24  - 12 the European Central Bank and the UK Prudential Regulatory Authority.