In the spirit of "best thing we can do with carbon is bury it", this could be great for the environment. Assumptions: less energy used for production than melting glass, easier process and shorter transport distances, recycling glass takes more energy than burying / decomposing the wood, we get even more commercial reasons for planting trees.

The problems could be in how long that "wood-glass" lasts. Will you see cracks soon? Will any insects start drilling your windows?