Formic acid (FA) has emerged as a promising candidate for hydrogen energy storage due to its favorable properties such as low toxicity, low flammability, and high volumetric hydrogen storage capacity under ambient conditions. Recent analyses have suggested that FA produced by electrochemical carbon dioxide (CO2) reduction reaction (eCO2RR) using low‐carbon electricity exhibits lower fugitive hydrogen (H2) emissions and global warming potential (GWP) during the H2 carrier production, storage and transportation processes compared to those of other alternatives like methanol, methylcyclohexane, and ammonia. eCO2RR to FA can enable industrially relevant current densities without the need for high pressures, high temperatures, or auxiliary hydrogen sources. However, the widespread implementation of eCO2RR to FA is hindered by the requirement for highly stable and selective catalysts. Herein, the aim is to explore and evaluate the potential of catalyst engineering in designing stable and selective nanostructured catalysts that can facilitate economically viable production of FA.