[MagnumOpus]

You are a bit out of date on this, wood isn't really turning into coal anymore these days, since bacteria and fungi have developed the ability to decompose lignin 300Ma ago.

The only thing comparable these days is peat bogs that act as carbon sinks (because their plant matter does not decompose due to acidic and anaerobic environment).

[eptcyka]

Peat bogs are flammable and can often catch fire, which in turn releases CO2. On timescales that matter, they are but temporary measures.