The combustion of fossil fuels for providing heat and power in the process industries is a major contributor of CO2emissions. Heat integration methods have been widely used for energy-saving retrofit projects to improve the energyefficiency of process plants, reducing fuel consumed and consequently CO2emissions. It is not straightforward toidentify the most appropriate strategy for CO2emissions reduction, as a wide range of options are available, includ-ing fuel switching, reducing energy demand through efficiency improvements, retrofit of heat exchanger networks,etc. The economic impact and design constraints of each option need to be considered. A systematic approach ispresented to allow evaluation of trade-offs between the cost of emissions reduction options and the effect on over-all CO2emissions. The approach applies a hierarchical conceptual design procedure. The proposed procedure isapplied to a case study to demonstrate how an economic retrofit solution to reducing site-wide CO2emissions canbe systematically developed and evaluated.