Exploring the potential of utilizing CO₂ for commercial purposes is a promising opportunity, especially in light of the growing research efforts towards CO₂ capture, storage, and utilization as well as green H₂ production. This review article delves into catalyst features and other technological aspects of a plausible process for the indirect conversion of CO₂ into glycolic acid, which involves the following steps: CO₂ capture, water electrolysis, CO₂ hydrogenation to methanol, catalytic oxidation to formaldehyde, and formaldehyde carbonylation to glycolic acid. We adopt an industrial perspective to address this challenge effectively, thoroughly evaluating different processing alternatives with emphasis on the catalytic systems to optimize glycolic acid production performance.