; and (II) to adequately mitigate the environmental impacts (including impacts on biodiversity, land use, and air and water quality) associated with that equipment, technique, or technology; and (ii) requires that entity to carry out the activities described in clause (i). (2) Lifecycle basis The term lifecycle basis means the net sum of all greenhouse gas emissions (using mass values for all greenhouse gases that are adjusted to account for their relative global warming potential, in consultation with the Administrator of the Environmental Protection Agency) and removals associated with carbon dioxide removal activity from cradle to grave, including— (A) embodied emissions of the applicable equipment; and (B) any emissions associated with— (i) energy and feedstock inputs; (ii) the carbon dioxide removal process; and (iii) carbon dioxide storage, including use and disposal of any materials or products associated with carbon dioxide storage. (3) Remove The term remove , with respect to carbon dioxide, means— (A) to capture carbon dioxide using eligible technology; and (B) to permanently store that captured carbon dioxide— (i) in dedicated subsurface geologic storage reported under sections 98.440 and 146.91(e) of title 40, Code of Federal Regulations (or successor regulations); (ii) in building materials and mineralized carbon materials; or (iii) using other permanent storage methods, as determined by the Secretary. (4) Secretary The term Secretary means the Secretary of Energy. (5) Small removal project The term small removal project means a project for the removal of carbon dioxide that removes not more than 5 percent of the net metric tons of carbon dioxide required to be removed under subsection (b) for the applicable fiscal year. (b) Required quantities The Secretary shall, to the extent economically feasible as determined under subsection (c), remove— (1) 50,000 net metric tons of carbon dioxide, calculated on a lifecycle basis, for each of fiscal years 2024 and 2025