Cobalt-porphyrin catalyzed reductive decomposition of CO 2 to CO is investigated based on the Koper's water facilitated CO 2 reduction mechanism using simple but accurate protocol based on thermodynamics. In our protocol, accurate predictions of standard redox potentials and free energy differences are achieved by combining strengths of both density functional theory and experimental observations. With the proposed protocol, we found that the proton transfer from H 2 O takes place at −0.80 V vs. RHE at pH=3 through a concerted pathway and, as a result, the key intermediate for the CO generation, i.e., [CoP−COOH]is formed. Since the redox potential of the proton transfer agrees well with experimentally observed CO 2 reduction potential, we successfully clarified that H 2 O plays an important role in the reductive decomposition of CO 2 to CO. This result is valuable not only for understanding the cobalt-porphyrin catalyzed reductive decomposition of CO 2 but also as a guide for the development of new catalysts.