Reducing CO2, protecting the environment and our resources but also reducing dependency on raw materials are major societal challenges. In this context, the EU has adopted ambitious goals to reduce greenhouse gas emissions to 80-95% below 1990 levels by 2050. So far, most attention from policy makers and industry has been paid to Carbon Capture and Storage (CCS) which intends to concentrate CO2 and store it into geological sites.The current SCOT project is focusing on an emerging and insufficiently addressed area presenting strong research, market development and economic growth potential: the recycling / utilization of CO2 through its transformation into valuable products via chemical or biological technologies. In addition to reducing net CO2 emissions, this approach brings the benefit of reducing the consumption of non-renewable resources. Indeed, CO2 is no longer considered as a waste but as an efficient resource enabling industries to:- reduce dependency on fossil fuels and primary raw materials for the production of industrial and transportation fuels, basic chemicals, and building materials;- increase the use of renewable energies from intermittent sources (e.g. solar, photovoltaic, or wind) by providing a solution for electricity storage, via the conversion of CO2 into gaseous or liquid fuels in periods where potential production exceeds demand on the grid and would otherwise be wasted.SCOT is the first ever European initiative in the field of CO2 recycling / utilization.Through a stronger coordination of efforts among the consortium, the SCOT project will enable to:- define a Strategic European Research Agenda aimed at developing new breakthrough solutions and market applications- attract additional EU clusters, regions and investors to participate to multi-disciplinary research programmes and other collaborative actions defined in a Joint Action Plan- propose structural policy measures to favour the transition to a new European society based on the paradigm of “CO2-as-a-resource”, thereby significantly improving the EU’s overall competitive position and environmental performance on the international scene.