Forests are an essential part of Earth's operating system. They reduce the buildup of heat-trapping carbon dioxide in the atmosphere from fossil fuel combustion, deforestation and land degradation by 30% each year. This slows global temperature increases and the resulting changes to the climate. In the U.S., forests take up 12% of the nation's greenhouse gas emissions annually and store the carbon long term in trees and soils.
Thanks, you often hear claims that young forests are more efficient at storing carbon (which is convenient for the logging industry ) the paper linked at the bottom of this article tries to debunk that https://doi.org/10.3389/ffgc.2019.00027