You grow a ton of hemp. It captures X tons of carbon.
People use it for rope or whatever. Eventually throw it away. It decays or is burned. X tons of carb are released back into the atmosphere.
How did that capture any carbon?
If those goods are discarded in a manner where the carbon isn't immediately re-released, so they're buried or introduced into a bio-system that can consume it and turn the carbon into some other non-gas form, then you can get further gains.
As a material, if you're using it in place of plastics again it forms a more sustainable cycle over a reasonably long time frame.
Yes we do need to sequester some atmospheric carbon long term, but establishing a more sustainable carbon materials cycle has an important role to play.
Right now the only realistic way to use photosynthesis to capture CO2 in a long term way is to plant a forest. There's some amount of this going on, though not enough to even cover deforestation elsewhere.
- the products last longer than a rotting plant. This is incremental.
- burned for energy. This reduces coal, NG etc uses and is roughly carbon neutral