Past studies on CO 2 utilization in the concrete industry have primarily focused on maximizing sequestered CO 2 , while focusing less on CO 2 avoidance possible by reducing binder use through the addition of CO 2 to concrete formulations. In this paper, we study the net CO 2 reduction and cost benefits achievable by reducing binder loading while adding CO 2 via three approaches: carbonation during curing, carbonation during mixing, or carbonation with recycled concrete aggregate. These techniques are evaluated for a cohort of concrete formulations representing the diverse mixture designs found in the US ready-mixed and precast industries. Each formulation is optimized for reduced binder loading where the use of CO 2 directly in the formulation recovers the lost compressive strength from reduced binder. We show that over an order of magnitude more CO 2 can be avoided when binder reduction is jointly implemented with CO 2 utilization compared to utilizing CO 2 alone. As a result, nearly 40% of the annual CO 2 emissions from the US concrete industry could, in principle, be eliminated without relying on novel supplemental materials, alternative binder, or carbon capture and sequestration. The recently amended 45Q tax credit will not incentivize this strategy, as it only considers carbon sequestration. However, we find that the saved material cost from reduced binder use on its own may provide a significant economic incentive to promote the joint strategy in practice. We conclude that the real value of CO 2 utilization in concrete hinges on exploiting CO 2 -induced property changes to yield additional emission reduction, not by maximizing absorbed CO 2 .