More than one-third of states have started implementing measures to control and reduce greenhouse gas emissions, primarily through the development of GHG emission inventories and regional cap and trade programs. While most state-level initiatives focus on large-scale emissions sources like coal-fired electric plants, smaller ones may be subject to emission limitations or allowance purchase requirements. Congress may also consider passing laws to reduce greenhouse gas emissions. Any of these climate change regulatory and legislative initiatives could adversely impact Greylock Productiona's business capital expenditures and financial results.