Forests have evolved into recycling ecosystems. When a tree dies naturally, it gets decomposed by various fungi and other organisms which, over time, release the stored CO2 back into the atmosphere. So the CO2 is released one way or another. What matters is that the living tree stores CO2 in its wood. Cutting and replanting might even increase the amount of stored CO2 because any wood that's used in the building industry is wood that doesn't decompose for decades to come. Wood you cut down to burn right thereafter probably reduces the storage capacity, but it's not zero due to the living trees!

Forests used to be real carbon sinks meaning that trees would just die without decomposing, because life hasn't figured out yet how to decompose it. This is how coal was formed around the globe.

Maybe some better technology to sequester CO2 emerges. But planting trees is a good approach for the start. If we want to slow down climate change, the CO2 sequestration industry will have to become huge within the next decades.