Electrochemical carbon dioxide reduction reaction (CO2RR) driven by renewable energy shows great promise in mitigating and potentially reversing the devastating effects of anthropogenic climate change and environmental degradation. The simultaneous synthesis of energy‐dense chemicals can meet global energy demand while decoupling emissions from economic growth. However, the development of CO2RR technology faces challenges in catalyst discovery and device optimization that hinder their industrial implementation. In this contribution, we provide a comprehensive overview of the current state of CO2RR research, starting with the background and motivation for this technology, followed by the fundamentals and evaluated metrics. We then discuss the underlying design principles of electrocatalysts, emphasizing their structure–performance correlations and advanced electrochemical assembly cells that can increase CO2RR selectivity and throughput. Finally, we look to the future and identify opportunities for innovation in mechanism discovery, material screening strategies, and device assemblies to move toward a carbon‐neutral society.This article is protected by copyright. All rights reserved