Carbon capture and storage (CCS) technologies aiming at tackling CO2 emission have attracted much attention from scientists of various backgrounds. Most CCS systems require an efficient adsorbent to remove CO2 from sources such as fossil fuels (pre‐combustion) or flue gas from power generation (post‐combustion). Research on developing efficient adsorbents with a substantial capacity, good stability and recyclability has grown rapidly in the past decade. Because of their high surface area, highly porous structure, and high stability, various nanoporous materials have been viewed as good candidates for this challenging task. Here, recent developments in several classes of nanoporous materials, such as zeolites, metal organic frameworks (MOFs), mesoporous silicas, carbon nanotubes, and organic cage frameworks, for CCS are examined and potential future directions for CCS technology are discussed. The main criteria for a sustainable CO2 adsorbent for industrial use are also rationalized. Moreover, catalytic transformations of CO2 to other chemical species using nanoporous catalysts and their potential for large scale carbon capture and utilization (CCU) processes are also discussed. Application of CCU technologies avoids any potential hazard associated with CO2 reservoirs and allows possible recovery of some running cost for CO2 capture by manufacturing valuable chemicals. Nanoporous materials have shown great potential as efficient adsorbents for carbon capture and storage (CCS) technologies. An overview of the properties of these classes of nanomaterials with their advantages and limitations regarding use as CO2 adsorbents is presented. New research directions in CO2 utilization are also discussed.