Environmental protection is a critical issue worldwide at the current time. In particular, CO2 emissions are now considered to be one of the major pollutants contributing to global warming. The aim of this concise review is to provide a clear picture of the present development of various capture technologies and available technology options. In addition, this article attempts to examine recent advances in research and developments for CO2 storage and sequestration. Finally, the article also looks at opportunities and challenges based on cost and engineering economics of CO2 capture and sequestration.