McKinseyCompanyMcKinsey Sustainability PracticeEverything you wanted toknow about carbon removalsbut were afraid to askDecarbonization has emerged as a critical tool in the fight against climate change,but it also shows promise as a means of economic acceleration across the globe.Learn how.April 2024By 2050,carbon dioxide removal could be aheating and lighting and the materials we use-$1.2 trillion industry.On this episode of Theare important to our daily lives and our economicMcKinsey Podcast,McKinsey senior partner Markgrowth,it's very hard to cut them off or to stopPatel joins editorial director Roberta Fusaro tousing them.discuss McKinsey's recent report about thebusiness of carbon dioxide removal and how itRoberta Fusaro:What is it about CDR that's socould play a vital role in responding to hard-to-helpful for neutralizing these residual emissions?abate emissions in various sectorsMark Patel:The concept of carbon dioxide removalIn our second segment,Black Americans areis,if we can't entirely cut out the activities that areespecially vulnerable to the effects of climatecausing emissions,then let's instead find otherchange.McKinsey partner Munya Muvezwa sharesmechanisms in which we can remove carbonconcrete steps leaders can take to help prevent thedioxide,or gases that are equivalent to carbondeterioration of the lives and livelihoods of Blackdioxide.We use the term "carbon dioxide removal"Americans and the US economy at large.as a broad term that really describes the fact thatwe are either taking carbon dioxide that's in theThis transcript has been edited for clarityatmosphere or carbon dioxide that's being emittedand length.into the atmosphere and trying to capture it,contain it,store it,or permanently remove it.The McKinsey Podcast is hosted by Roberta Fusaroand Lucia Rahilly.Reaching the 2050 net-zero goalRoberta Fusaro:If we want to reach net-zeroThe basics of carbon removaltargets by 2050,what level of CDR capacity wouldRoberta Fusaro:The Intergovernmentallikely be needed?Panel on Climate Change has made clear thatdecarbonization is the most critical response toMark Patel:Let's start with the year 2030.Ourclimate change,but McKinsey's research showsestimates are in the range of 0.8 gigatons tothat decarbonization alone may not be enough.2.9 gigatons of CO2 per year of removal capacity byThe report says carbon dioxide removal,or2030.Talking about 0.8 or 2.9 gigatons-that'sCDR,could play a vital role in combatting hard-to-sometimes an abstract concept.What does thatabate emissions.What are these hard-to-abateactually look like?We talk about the carbon budgetemissions?What do we mean by that?of the planet as being between around 500gigatons to 600 gigatons.We are probably at theMark Patel:In terms of the human-made activities,point of being about to pass or having just passedthe hard-to-abate emissions and what we callthat budget.the hard-to-abate sectors are referred to as hardto abate because either they rely on energy fromWhat that means is the natural balance of ourfossil fuels,or from inputs that come from fossil-atmosphere is no longer in balance.Getting to idealderived sources,or they have activities that createlevels of carbon removals requires a more thoroughemissions.And when those activities-things likeunderstanding of what it means to decarbonize,orEverything you wanted to know about carbon removals butwere afraid to ask