~25% of CO2 emissions are captured by the oceans. The increased productivity of terrestrial plants captures more of the emissions. I don't think the inertia provided by CO2 captured by the ocean is taken into account. This is presumably why the COVID lockdowns didn't make much difference for atmospheric CO2 levels: https://www.bbc.com/news/science-environment-55018581
The most important of the "complex downstream effects" of increased atmospheric CO2 is increased agricultural productivity.
[0] https://pulsegrow.com/blogs/learn/ideal-co2-levels-and-room-...