In this study, we explore the potential of metal–organic frameworks (MOFs) as catalysts for converting CO2 into valuable chemicals. The focus is on integrating frustrated Lewis pairs (FLPs) within the UiO−67 framework. We investigated 12 distinct functionalized FLP moieties (X = −BF2, −BCl2, −BBr2, −BH2, −B(CH3)2, −B(CF3)2, −B(CN)2, −B(NO2)2, −B(OH)2, −B(NH2)2, −B(OCH3)2, and −B(N(CH3)2)2 to determine their ability to activate small molecules within heterogeneous catalysis using density functional theory (DFT). This study reveals two critical stages in the CO2 conversion process with H2 in UiO−67−X. First, the initial heterolytic cleavage of H2 at the FLP site, and second, the subsequent hydrogenation of CO2. The latter involves the addition of a hydride and a proton. Our findings demonstrate that these modifications facilitate efficient dissociation of H2 into Hδ− and Hδ+ with energy barriers ranging from 0.12 to 0.87 eV and CO2 hydrogenation barriers spanning from 0.61 to 1.90 eV. Notably, the −B(CH3)2 functional group exhibited superior effectiveness in CO2 hydrogenation to formic acid (HCOOH; FA). This enhanced activity correlates directly with FLP acidity and the Gibbs free energy changes in H2 dissociation reaction. It highlights the significant influence of FLP−assisted heterolytic dissociation of H2 in the CO2 conversion process. The results of this study do more than introduce metal-free heterogeneous FLPs within MOFs. They also establish a clear link between the functional group composition, FLP acidity, and catalytic efficiency. These insights offer a valuable theoretical foundation for the design of advanced UiO−67−X catalysts. They open up possibilities for transforming greenhouse gases into valuable chemical products, contributing to sustainable chemical synthesis.