The levels of atmospheric carbon dioxide (CO2) indicate an increasing pattern, primarily attributed to the combustion of fossil fuels for energy generation, deforestation, and agricultural activities. The implementation of various solutions aimed at mitigating the emission of CO2 into the atmosphere is of utmost importance to ensure the preservation of Earth for future generations. The technology of carbon capture, utilization, and storage (CCUS) is garnering considerable interest among researchers due to its potential to effectively mitigate net CO2 emissions. Therefore, the purpose of this review was to critically assess advancements in CCUS technology, including its environmental benefits and challenges. The review revealed significant efforts in the implementation of CCUS among major contributors to CO2 emissions, such as power plants and cement manufacturers, in recent times. The field of CCUS technology has witnessed notable progress, particularly in terms of enhancing adsorption efficiency, cost-effectiveness, and environmental sustainability. This review provides an additional overview of the concept of integrated CO2 capture and utilization (ICCU), which involves capturing and in-situ converting CO2 to produce value-added chemicals and fuels. Implementing effective strategies to reduce CO2 emissions through the use of ICCU is crucial for sustainable CO2 management.