Sequestring CO2 is a huge scale problem, and all solutions have significant flaws. Forests require vasts amounts of land, and storage is only assured as long as nobody decides to chop down the forest for other more pressing purposes (looking at you, Brazil). Storing CO2 in oceans (either in the form of "ocean fertilization" or by directly dissolving CO2 in seawater) could have huge and unknown consequences for marine…
Yes and no; if we're talking about logging for lumber then it's really a question of efficiency. Logging in optimal ways helps you minimize carbon release and maximize wood production long-term. If most of the wood is used in construction the carbon remains captured so long as the building stands or the timber is re-used or eventually buried, i.e. scrap wood from a tear-down or remodel isn't burned or left near enough to the surface to rot.
Setting aside land for logging this way has the benefit of using economic activity to our advantage. There are obviously limits but there is no one magic solution to climate change.