Homogeneous Hydrogenation of CO(2) and CO to Methanol: The Renaissance of Low‐Temperature Catalysis in the Context of the Methanol Economy

The traditional economy based on carbon‐intensive fuels and materials has led to an exponential rise in anthropogenic CO(2) emissions. Outpacing the natural carbon cycle, atmospheric CO(2) levels increased by 50 % since the pre‐industrial age and can be directly linked to global warming. Being at the core of the proposed methanol economy pioneered by the late George A. Olah, the chemical recycling of CO(2) to produce methanol, a green fuel and feedstock, is a prime channel to achieve carbon neutrality. In this direction, homogeneous catalytic systems have lately been a major focus for methanol synthesis from CO(2), CO and their derivatives as potential low‐temperature alternatives to the commercial processes. This Review provides an account of this rapidly growing field over the past decade, since its resurgence in 2011. Based on the critical assessment of the progress thus far, the present key challenges in this field have been highlighted and potential directions have been suggested for practically viable applications.