Unstable policy is driving capital away from climate infrastructure just when we need more of it.

The other day, a biochar developer we were working with contacted us to say their company was shutting down. They had feedstock suppliers in place, the right team, and independent verification in hand. And still, they folded — not because the technology failed, but because they couldn’t raise funding.

They’re not alone.

There’s no net zero without carbon removal, yet it is the most underfinanced corner of clean tech. Projects can already prove they work; what they can’t do is raise the capital to build their first plants. With policy signals growing less predictable by the day, financial institutions must step up.

The current U.S. policy environment has sent a chill through climate finance. Although President Trump's “One Big Beautiful Bill” left the related tax credits intact, the bigger picture is grim. The Department of Energy just canceled $7.5 billion in support for clean energy and carbon capture projects, after axing $3.7 billion in May.

It’s proof the ground can shift overnight.

Naturally, investors are pulling back. Since January, 56 clean energy manufacturing projects worth more than $45.9 billion and involving more than 51,000 jobs have been slowed or paused.........

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