In a socio-environmental landscape that looks towards eco-sustainability and renewable energy, the use of photosynthetically active organisms such as microalgae has gained considerable attention in recent years. Microalgae can be cultivated in combination with wastewater bioremediation and carbon dioxide capture systems. The microalgal biomass produced is rich in bioactive compounds including lipids, carbohydrates, proteins, and antioxidants, which can be employed for a variety of biotechnological applications including bioenergy, pharmaceutical, food, and cosmetic production. This study explored the current research and potential applications of integrating wastewater treatment and carbon capture into a single closed-loop system with the aim of protecting the environment while also yielding high-value compounds. The implications of this innovative approach to eco-sustainability and renewable energy were also discussed. [ABSTRACT FROM AUTHOR]