This presentation will discuss the climate regulatory risks facing the semiconductor industry, with special focus on fluorinated compounds with high Global Warming Potentials (GWPs). It will trace the evolution of the current regulatory requirements facing HFCs under the Kigali Amendment to the Montreal Protocol and its implementing legislation, the American Innovation and Manufacturing Act of 2020 (AIM Act), which passed Congress with strong bipartisan support in 2020 and was followed by bipartisan support in the U.S. Senate for Kigali ratification in 2022. Mr. Stone then will discuss the regulatory outlook for HFCs and other fluorinated compounds not yet subject to comprehensive regulation, such as PFCs, NF3, and SF6, and outline possible approaches to managing regulatory risk and ensuring adequate investment levels and transition times for the identification, testing, and use of more climate-friendly substitutes in semiconductor manufacturing.