A cobalt(i) complex is shown to be capable of both electrocatalytic reduction and hydrogenation of CO2 to formate. Several proposed intermediates are characterized and thus form the basis for a proposed mechanism that allows for the dual reactivity: reduction of CO2via H2 addition, and H+/e- equivalents. The work makes use of a novel tris(phosphino) ligand. When a pendent amine is attached to the ligand, no change in catalytic reactivity is observed.