This article reviews the literature related to the direct uses of CO2and its conversion into various value added chemicals including high energy density liquid fuels such as methanol. The increase in the direct uses of CO2and its conversion into potential chemical commodities is very important as it directly contributes to the mitigation of CO2related global warming problem. The method being followed at present in several countries to reduce the CO2associated global warming is capturing of CO2at its major outlets using monoethanolamine based solution absorption technique followed by storing it in safe places such as, oceans, depleted coal seams, etc., (i.e., carbon dioxide capturing and storing in safe places, CCS process). This is called as CO2sequestration. Although, the CCS process is the most understood and immediate option to mitigate the global warming problem, it is considerably expensive and has become a burden for those countries, which are practicing this process. The other alternative and most beneficial way of mitigating this global warming problem is to convert the captured CO2into certain value added bulk chemicals instead of disposing it. Conversion of CO2into methanol has been identified as one of such cost effective ways of mitigating global warming problem. Further, if H2is produced from exclusively water using only solar energy instead of any fossil fuel based energy, and is used to convert CO2into methanol there are three major benefits: i) it contributes greatly to the global warming mitigation problem, ii) it greatly saves fossil fuels as methanol production from CO2could be an excellent sustainable and renewable energy resource, and iii) as on today, there is no better process than this to store energy in a more convenient and highly usable form of high energy density liquid fuel. Not only methanol, several other potential chemicals and value added chemical intermediates can be produced from CO2. In this article, i) synthesis of several commodity chemicals including poly and cyclic-carbonates, sodium carbonate and dimethyl carbonate, carbamates, urea, vicinal diamines, 2-arylsuccinic acids, dimethyl ether, methanol, various hydrocarbons, acetic acid, formaldehyde, formic acid, lower alkanes, etc., from CO2, ii) the several direct uses of CO2, and iii) the importance of producing methanol from CO2using exclusively solar energy are presented, discussed and summarized by citing all the relevant and important references.