You're treating VC's as rational economic entities with only money at play. VCs have personal interest, and sometimes have other stake in the situation. If your background is coal mining, and you are a VC who also holds significant stake in coal mines, you are very likely to fund CCS ventures with high risk for reasons which do not equate directly to the ROI inherent in that specific CCS venture and its future share worth.

See Twiggy Forrest and Mike Cannon Brookes. They're investing in solar to power a long-line HVDC feed from NT Australia to Singapore, and Forrest is funding H2 plants in Gladstone, Qld Australia to supply a future Hydrogen market which doesn't yet exist. Why? because they WANT TO.

"oh, if you want to, then you aren't a VC" .. sorry, its not always just about the money.