Biomass and CO2 conversion is receiving great attention to address climate change and energy crisis. Bio-based lactic acid (LA) appeals industries, however, current technologies suffer from low productivity and waste pro-duction. The transfer hydrogenation of glycerol and CO2 to LA and formic acid (FA) has been proposed as an alternative pathway, but further development and process design are required. This study proposes the inte-grated process for conversion of glycerol and CO2 to LA and FA derivatives. A two-pot/two-step transfer hy-drogenation was demonstrated to achieve high products yield, catalyst reusability, and product separation. The esterification of lactate and formate salts to corresponding esters utilizing CO2 was also developed, which re-duces H2SO4 consumption and K2SO4 waste. Techno-economic and life cycle assessments reveal that CO2 uti-lization is crucial for high economic benefit and low climate change impact. This study shows integrating biomass and CO2 could have synergies to design greener process.