Electrochemical reduction of CO₂ to valuable products on molecular catalysts draws attention due to their versatile structures allowing tuning of activity and selectivity. Here, we investigate temperature influence on CO₂ conversion product selectivity over a Cobalt(II)-tetraphenyl porphyrin (CoTPP)/multiwalled carbon nanotube (MWCNT) composite in the range of 20-50℃. Faradaic efficiency of products changes with temperature and potential so that two-electron transfer product CO formation is enhanced at low potentials and temperatures while the competing hydrogen formation shows an opposite trend. Multi-electron transfer product methanol formation is more favorable at low temperatures and potentials whereas reverse applies for methane. Activity and selectivity are analyzed with DFT simulations identifying the key differences between the binding energies of CH₂O and CHOH, the binding strength of CO, and the protonation of CHO intermediate. This novel experimental and theoretical understanding for CO₂ reduction provides insight in the influence of the various conditions on the product distribution.