Disclosed herein is a multifunctional catalyst system comprising a substrate; and a catalyst pair disposed upon the substrate; wherein the catalyst pair comprises a first catalyst and a second catalyst; and wherein the first catalyst initiates or facilitates the reduction of carbon dioxide to carbon monoxide while the second catalyst initiates or facilitates the conversion of carbon monoxide to an organic compound. Disclosed herein is a method comprising reducing carbon dioxide to carbon monoxide in a first reaction catalyzed by a first catalyst; and reacting carbon monoxide with hydrogen in a second reaction catalyzed by second catalyst; wherein the first catalyst and the second catalyst are disposed upon a single substrate.