There are different ways to do it, some decent, some bullshit. And it's only useful if it's powered by renewable energy like wind/solar. But it's largely unregulated, so a lot of corps grossly overestimate the amount of carbon they're capturing. Or just flat out lie.
The main problem is that it's presented as some sort of big solution, when it's more like putting a SpongeBob band-aid on a gunshot wound. Corps use it to justify continuing to fuck the atmosphere with things like....jet fuel, for example.