This study introduces a new strategy for the environmentally friendly catalytic degradation of Reactive Red 24 (RR24) dye using sunlight. We developed a cost-effective quaternary nanocomposite by immobilizing a sodium alginate biopolymer over bioengineered Co-Zn-Ce nanoparticles, forming an SA@Co–Zn–Ce nanocomposite (where SA means sodium alginate). This composite also demonstrated an exceptional antioxidant potential of approximately 89%, attributed to the synergistic effect of sodium alginate and green-synthesized Co–Zn–Ce nanoparticles (biosynthesized using Ocimum sanctum leaf extract as a reducing agent). Scanning electron microscopy revealed grain sizes of 28.6 nm for Co–Zn–Ce NPs and 25.59 nm for SA@Co–Zn–Ce nanocomposites (NCs). X-ray diffraction showed particle sizes of 16.87 nm and 15.43 nm, respectively. Co–Zn–Ce NPs exhibited a zeta potential of 1.99 mV, whereas the sodium alginate-anchored Co–Zn–Ce showed −7.99 mV. This indicated the entrapment of negatively charged ions from sodium alginate, altering the surface charge characteristics and enhancing the photocatalytic degradation of RR24. Dynamic light scattering revealed an average particle size of approximately 81 nm for SA@Co–Zn–Ce NCs, with the larger size due to the influence of water molecules in the colloidal solution affecting hydrodynamic diameter measurement. The SA@Co–Zn–Ce NCs exhibited a CO2 adsorption capacity of 3.29 mmol/g at 25 °C and 4.76 mmol/g at 40 °C, indicating temperature-dependent variations in adsorption capabilities. The specific surface area of Co–Zn–Ce oxide NPs, measured using Brunauer–Emmett–Teller (BET) analysis, was found to be 167.346 m2/g, whereas the SA@Co–Zn–Ce oxide nanocomposite showed a surface area of 24.14 m2/g. BJH analysis revealed average pore diameters of 34.60 Å for Co–Zn–Ce oxide NPs and 9.26 Å for SA@Co–Zn–Ce oxide NCs. Although the immobilization of sodium alginate on Co–Zn–Ce oxide NPs did not increase the adsorption sites and porosity of the composite, as evidenced by the N2 adsorption–desorption isotherms, the SA@Co–Zn–Ce oxide NCs still demonstrated a high photocatalytic degradation efficiency of RR24.