CO2 bio-mitigation using genetically modified algae and biofuel production towards a carbon net-zero society

•Bio-mitigation of carbons by a micro-algal system is considered a feasible approach.•Genetically engineered algae usage for CO2 capture and energy generation is detailed.•The conversion of algae lipids to biofuel through transesterification is described.•Research and future works in CO2 bio-mitigation-algae-biofuel production are discussed.