diff --git a/contracts/MapleProxyFactory.sol b/contracts/MapleProxyFactory.sol
index aca21d0..d3a2fed 100644
--- a/contracts/MapleProxyFactory.sol
+++ b/contracts/MapleProxyFactory.sol
@@ -66,6 +66,12 @@ contract MapleProxyFactory is IMapleProxyFactory, ProxyFactory {
         emit DefaultVersionSet(defaultVersion = version_);
     }
 
+    function setGlobals(address mapleGlobals_) public override virtual onlyGovernor {
+        require(IMapleGlobalsLike(mapleGlobals_).governor() != address(0), "MPF:SG:INVALID_GLOBALS");
+
+        emit MapleGlobalsSet(mapleGlobals = mapleGlobals_);
+    }
+
     /****************+++++******/
     /*** Instance Functions ***/
     /***************++++*******/
diff --git a/contracts/interfaces/IMapleProxyFactory.sol b/contracts/interfaces/IMapleProxyFactory.sol
index 9344ffc..936e33c 100644
--- a/contracts/interfaces/IMapleProxyFactory.sol
+++ b/contracts/interfaces/IMapleProxyFactory.sol
@@ -41,6 +41,12 @@ interface IMapleProxyFactory is IDefaultImplementationBeacon {
      */
     event InstanceUpgraded(address indexed instance, uint256 indexed fromVersion, uint256 indexed toVersion, bytes migrationArguments);
 
+    /**
+     *  @dev   The MapleGlobals was set.
+     *  @param mapleGlobals The address of a Maple Globals contract.
+     */
+    event MapleGlobalsSet(address indexed mapleGlobals);
+
     /**
      *  @dev   An upgrade path was disabled, with an optional migrator contract.
      *  @param fromVersion The starting version of the upgrade path.
@@ -124,6 +130,13 @@ interface IMapleProxyFactory is IDefaultImplementationBeacon {
      */
     function setDefaultVersion(uint256 version_) external;
 
+    /**
+     *  @dev   Sets the Maple Globals contract.
+     *  @dev   Only the Governor can call this function.
+     *  @param mapleGlobals_ The address of a Maple Globals contract.
+     */
+    function setGlobals(address mapleGlobals_) external;
+
     /**
      *  @dev   Upgrades the calling proxy contract's implementation, with some migration arguments.
      *  @param toVersion_ The implementation version to upgrade the proxy contract to.
diff --git a/contracts/test/MapleProxyFactory.t.sol b/contracts/test/MapleProxyFactory.t.sol
index f93c055..ac4f988 100644
--- a/contracts/test/MapleProxyFactory.t.sol
+++ b/contracts/test/MapleProxyFactory.t.sol
@@ -50,7 +50,6 @@ contract MapleProxyFactoryTests is TestUtils {
         notGovernor     = new Governor();
         user            = new User();
 
-
         globals = new MapleGlobalsMock(address(governor));
         factory = new MapleProxyFactory(address(globals));
     }
@@ -183,4 +182,17 @@ contract MapleProxyFactoryTests is TestUtils {
         assertEq(factory.versionOf(instance.implementation()), 2);
     }
 
+    function test_setGlobals() external {
+        MapleGlobalsMock newGlobals = new MapleGlobalsMock(address(governor));
+
+        assertEq(factory.mapleGlobals(), address(globals));
+
+        assertTrue(!notGovernor.try_mapleProxyFactory_setGlobals(address(factory), address(newGlobals)));
+        assertTrue(   !governor.try_mapleProxyFactory_setGlobals(address(factory), address(1)));
+        assertTrue(   !governor.try_mapleProxyFactory_setGlobals(address(factory), address(new EmptyContract())));
+        assertTrue(    governor.try_mapleProxyFactory_setGlobals(address(factory), address(newGlobals)));
+
+        assertEq(factory.mapleGlobals(), address(newGlobals));
+    }
+
 }
diff --git a/contracts/test/accounts/Governor.sol b/contracts/test/accounts/Governor.sol
index bbf2068..da60af6 100644
--- a/contracts/test/accounts/Governor.sol
+++ b/contracts/test/accounts/Governor.sol
@@ -30,6 +30,10 @@ contract Governor {
         IMapleProxyFactory(factory_).setDefaultVersion(version_);
     }
 
+    function mapleProxyFactory_setGlobals(address factory_, address mapleGlobals_) external {
+        IMapleProxyFactory(factory_).setGlobals(mapleGlobals_);
+    }
+
     /*********************/
     /*** Try Functions ***/
     /*********************/
@@ -62,4 +66,8 @@ contract Governor {
         ( ok_, ) = factory_.call(abi.encodeWithSelector(IMapleProxyFactory.setDefaultVersion.selector, version_));
     }
 
+    function try_mapleProxyFactory_setGlobals(address factory_, address mapleGlobals_) external returns (bool ok_) {
+        ( ok_, ) = factory_.call(abi.encodeWithSelector(IMapleProxyFactory.setGlobals.selector, mapleGlobals_));
+    }
+
 }
diff --git a/modules/proxy-factory b/modules/proxy-factory
index ba289ac..54eec1d 160000
--- a/modules/proxy-factory
+++ b/modules/proxy-factory
@@ -1 +1 @@
-Subproject commit ba289acdd8ece6d15391cd769c94eb66497f6f1b
+Subproject commit 54eec1df1bb66d97bfa748c774147a93264da441