The increase in concentration of carbon dioxide in the atmosphere over several years has led to surge in global catastrophe. The average carbon dioxide concentration reported in 2021 was 416.45 parts per million (ppm) with decadal average growth rate of 2.43 ppm per year. To mitigate global climate change, increase in carbon dioxide and other greenhouse gases have become a matter of concern. Thus, carbon capture and storage (CCS) is a promising method for reducing carbon dioxide from the atmosphere. Various CCS technologies have been discussed with emphasis on biofixation of CO2. Microalgae have been studied and tested for several years due to many of its advantages. One of its benefits is consuming CO2 for its growth and converting them into biomass leading to reduction of CO2 in a sustainable manner and thereby producing several value-added products. The vision of this paper is to study the potentials of various microalgae for fixing CO2. By a combination of various research studies this article aims for a more sustainable approach by using microalgae and its mechanism that can naturally utilize CO2. © 2023