In recent years, two-dimensional metal-organic frameworks (2D MOF) have attracted great interest for their ease of synthesis and for their catalytic activities and semiconducting properties. The appeal of these materials is that they are layered and easily exfoliated to obtain a monolayer (or few layer) material with interesting optoelectronic properties. Moreover, they have great potential for CO2 reduction to obtain solar fuels with more than one carbon atom, such as ethylene and ethanol, in addition to methane and methanol. In this paper, we explore how a particular class of 2D MOF based on a phthalocyanine core provides the reactive center for the production of ethylene and ethanol. We examine the reaction mechanism using the new grand canonical potential kinetics (GCP-K) or grand canonical quantum mechanics (GC-QM) computational methodology, which obtains reaction rates at constant applied potential to compare directly with experimental results (rather than at constant electrons as in standard QM). We explain the reaction mechanism underlying the formation of methane and ethylene. Here, the key reaction step is direct coupling of CO into CHO, without the usual rate-determining CO-CO dimerization step observed on Cu metal surfaces. Indeed, the 2D MOF behaves like a single-atom catalyst.