What we need is to invest in technology to reduce CO2. Nuclear fusion/fission, solar, wind, electric or alternative fuel cars, redesign CO2 industry processes, etc.
The petrol and coal industry would have to go entirely bankrupt. No exceptions.
The "plant trees for charcoal" idea is basically the bio-engineering method of "build huge photovoltaic solar plant, use electric energy to power chemistry to convert CO2 to oil". Photosynthetic plants are pretty efficient, compared to silicon solar cells, and they're (literally) dirt cheap.