A bifunctional cobalt-salen complex containing a Lewis acidic metal center and a quaternary phosphonium salt unit anchored on the ligand effectively catalyzes the synthesis of cyclic carbonates from CO2 and epoxides under mild conditions without the utilization of additional organic solvents or co-catalysts. The effects of various reaction variables on the catalytic performance were studied in detail and indicate an optimized reaction temperature of about 100 °C and CO2 pressure of around 4 MPa, although the reaction proceeds smoothly even at pressures as low as 2 MPa. The catalyst is applicable to a variety of epoxides, producing the corresponding cyclic carbonates in good yields in most cases. Furthermore, the catalyst can be easily recovered and reused several times without significant loss of its catalytic activity. This process thus represents a greener pathway for the environmentally benign chemical fixation of CO2 to produce cyclic carbonates.