Or, instead of burying cut trees underground you could build houses from it. That's what we do in Finland where forests are plentiful. This way you effectively capture the carbon for 50+ years, and reduce use of cement which causes significant co2 emissions.

In fact, a well built log house can last for hundreds of years if maintained properly. We have plenty of those with original wood from 1800's. Wood can be used to build larger buildings as well.