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In this study, we explored the capability of coda wave interferometry (CWI) for monitoring CO₂ storage by estimating the seismic velocity changes caused by CO₂ injection. Given that the CWI method is highly efficient, the primary aim of this study was to provide a quick detection tool for the long-term monitoring of CO₂ storage safety. In particular, we looked at monitoring with a cross-well geometry. We also expected that CWI could help to reduce the inversion errors of existing methods. Time-lapse upgoing waves and downgoing waves from two-component datasets were utilized to efficiently monitor the area between the wells and provide a quick indication of possible CO₂ leakage. The resulting mean velocity changes versus the depth indicated the depth where velocity changes occurred. Combining the upgoing and downgoing wavefields provided a more specific indication of the depth range for changes. The calculated velocity changes were determined using the time shift between the time-lapse wavefields caused by CO₂ injection/leakage. Hence, the resulting velocity changes were closely related to the ratio of propagation path length through the CO₂ injection/leakage layer over the length of the entire travel path. The results indicated that the noise level and repeatability of the time-lapse datasets significantly influenced the results generated using CWI. Therefore, denoising and time-lapse processing were very important for improving the detectability of any change. Applying CWI to time-lapse cross-well surveys can be an effective tool for monitoring CO₂ in the subsurface at a relatively low computational cost. As a highly efficient monitoring method, it is sensitive to changes in the seismic response caused by velocity changes in the subsurface and provides additional constraints on the inversion results from conventional travel time tomography and full waveform inversion.