Paper production is the most effective man-made carbon sequestration method we have. We're growing forests, which pulls massive amounts of CO2 out of the atmosphere, then storing it in paper and lumber that isn't likely to be burned and put back into the atmosphere any time soon.

The Intergovernmental Panel on Climate Change said "In the long term, a sustainable forest management strategy aimed at maintaining or increasing forest carbon stocks, while producing an annual sustained yield of timber, fibre or energy from the forest, will generate the largest sustained mitigation benefit".

http://www.ipcc.ch/pdf/assessment-report/ar4/wg3/ar4-wg3-cha...