This study develops an integrated environmental–economic assessment framework to evaluate the life cycle environmental impacts and economic costs of CO₂ geological storage and produced water treatment in saline formations in China. Using a case study of a saline aquifer carbon storage project in the Ordos Basin, eight full-chain carbon capture, utilization, and storage (CCUS) scenarios were analyzed. The results indicate that environmental and cost performance are primarily influenced by technology choices across carbon capture, transport, and storage stages. The scenario employing potassium carbonate-based capture, pipeline transport, and brine reinjection after a reverse osmosis treatment (S5) achieved the most balanced outcome. Breakeven analyses under three carbon price projection models revealed that carbon price trajectories critically affect project viability, with a steadily rising carbon price enabling earlier profitability. By decoupling CCUS from power systems and focusing on unit CO₂ removal, this study provides a transparent and transferable framework to support cross-sectoral deployment. The findings offer valuable insights for policymakers aiming to design effective CCUS support mechanisms under future carbon neutrality targets.