The rising amount of greenhouse gases has been contributing to global warming and, subsequently, climate change. Industries such as refineries and power plants emit a significant amount of CO2 into the atmosphere. It is imperative to curb anthropogenic CO2 emissions, and hence, in this effort, we explore the utilization of a refinery emission stream to produce value‐added chemicals. The chosen emission stream for the said purpose is a typical flue gas stream from refineries. Following the capture step, this CO2 stream has been leveraged for subsequent valorization processes. Two strategies have been proposed in this paper to valorize the captured carbon dioxide. The first strategy employs the tri‐reforming process with a refinery‐specific fuel gas stream as the co‐reactant. The resulting syngas from tri‐reforming has been converted to chemicals such as methanol (MET) and ethanol. Furthermore, to improve the amount of CO2 valorized, another approach with green hydrogen has been considered. The second strategy aims at direct hydrogenation of the captured CO2 stream to produce MET and ethanol. The proposed strategies analyze the feasibility of valorizing captured CO2 from flue gas to MET and ethanol in terms of gross margin per feed and percentage of CO2 valorization. The performance assessment and analysis of the proposed processes have been carried out using simulations in Aspen Plus® that exhibited up to 74% valorization of CO2 into valuable chemicals.