In its 6th Assessment Report released in 2022 (IPCC 2022), the Intergovernmental Panel on Climate Change for the first time recognizes carbon capture and use (CCU) as one of the solutions to mitigate climate change. Several future scenarios for a net-zero chemical industry in 2050 show that 10 to 30 % of embodied carbon demand will come from CO2 utilization (Kähler et al. 2023). The potential of CCU has also been recognized by several global brands that are already expanding their portfolio of raw materials. Collaboration across the value chain is key to ensuring the right balance between costs and benefits. In Europe, investment and prospects for CO2 utilization are largely undermined by a lack of political support. In contrast, we see supportive policies in China as well as in the US with a law to reduce inflation. The US promotes the use of CO2 for fuels and chemicals from air capture and also from point sources including commercial plants (de la Garza 2022). Such smart policies are needed to bridge the gap by 2050 for companies to remain competitive in a sustainable transformation. Fortunately, academia and industry did not wait for intensive development and implementation of CCU technologies. Several successfully implemented technologies are currently in commercial use and many others are in the laboratory and pilot phase. Currently, CO2 and other C1-rich gases such as carbon monoxide (CO) are captured from fossil and biogenic point sources, but direct air capture (DAC) projects are also proliferating. From there, CO2 can be converted through chemical, biotechnological and electrochemical pathways into chemicals, advanced fuels, polymers, proteins or minerals. (Ahlam Raisa)