Debates about climate policy typically neglect the question of macrofinancial pathways to decarbonisation. This is problematic, because not all pathways are politically and economically viable, nor mutually compatible. We propose a theory of macro-financial regimes, understood as institutional modes of creation and access to financial assets, including money. We map three alternative green macro-financial regimes – Carbon Shock Therapy, small green (derisking) state and big green state – across mechanisms of coordination, industrial policy, the monetary-fiscal mix, financial regulation, and political coalitions. We discuss the associated power configurations and distributional conflicts against the path dependencies of the financial capitalism derisking status-quo.