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Here, a novel paired electrolysis system is constructed, where fluorine-doped tin oxide glass serves as the anode for the water oxidation reaction to produce hydrogen peroxide (H2O2), and cobalt phthalocyanine (CoPc)/carbon nanotube (CNT) loaded carbon paper as the cathode for CO2 reduction to generate CO. This system demonstrates a high overall energy efficiency of 34%, where a faradaic efficiency exceeding 90% for CO2 reduction and 60% for water oxidation to H2O2 have been achieved, demonstrating significant energy savings of nearly 40% compared to the respective half-reaction systems. [ABSTRACT FROM AUTHOR]