Full Title: Carbon Removals: How to Scale a New Gigaton Industry
Author(s): McKinsey & Company
Publisher(s): McKinsey & Company
Publication Date: December 4, 2023
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The Intergovernmental Panel on Climate Change (IPCC) has made it clear that CO2 removal (CDR) is a critical tool for achieving net zero by 2050 because they could enable businesses to neutralize residual carbon emissions once all emission reductions efforts have been exhausted. Thus, by 2050, CDR competency could be a core part of management responsibilities across all sectors.
This report provides an analysis of the market potential for CDR, the investment requirements, and market trends. It also identifies which actions are the most likely to lower barriers to scaling CDR and delineates potential advantages for first movers in different stakeholder groups.