The atmospheric carbon dioxide (CO2) accumulation (2–2.5 ppmv/year) is the result of the enormous gap between its emissions (37 Gton/year) and its capture, storage, and utilization (<500 Mton/year). Climate has been dramatically affected due to the failure of natural sinks, in working effectively. To address this Gton-scale gap, numerous uses and applications are needed particularly, those consuming vast volumes of this compound and/or rendering longevous products or long lifecycle services. Thus, carbon utilization (CU) can be seen as the step to close the carbon cycle. Among CU, R&D on CO2 chemical conversion has proposed a variety of processes, with different degrees of developmental maturity. These chemical process technologies could be efficiently and effectively integrated into refineries to upgrade emitted CO2. A technology pipeline consisting of a database of these processes and the technology market status should be defined based on published scientific results and patents. Then, an innovative top-down methodology is proposed to eco-design configurations of that refinery, to warrant a sustainable carbon cycle (in terms of energy, environment, and economy) and to change the ways of producing fuels, chemicals, and materials. Additionally, the proposed methodology could be used to identify research and development gaps and needs, for orienting science and technology investments and measures. Hopefully, sustainable CO2 refineries will be implemented to close the carbon cycle of a circular C-based economy and underpin a decarbonized chemical industry.