The concentration CO₂ gas has become a great worldwide challenge because CO₂ is considered as an important counterpart of greenhouse gases. The tremendous increase in the concentration of CO₂ gas, elevated the worldwide temperature as well as it altered the climatic changes. Various physiochemical approached have been reported to trap the CO₂ gas and the chemical conversion of CO₂ to useful chemicals is one of them. This review covers the conversion of CO₂ gas to formic acid. In this CO₂ hydrogenation reaction, both the homogeneous as well as heterogeneous catalytic systems were discussed along with the effect of solvent systems on reaction kinetics.