I think it is commendable you wrote about this, but there was a point you covered which to me seems to miss the full meaning of deforestation, and the cause of it, thus what we have to do to fix the entire issue of climate.
Deforestation, is so much more than just "Loss of natural carbon sinks".
Looking at nature as a system, we should notice that plants are the interface between all of life on Earth, and energy, all of which comes from the sun.
If we notice all of life on Earth is a kind of organism, we might also notice energy is to that organism, what oxygen is to a single individual lifeform within the organism.
Without oxygen, we quickly die.
Even if our oxygen is only reduced, we quickly sicken, though it might be argued there is some adaptibility, in general, a plentiful supply of oxygen is a fundamental requirement for good health in our bodies.
Our lungs are our interface with the oxygen in our environment.
Any impairment of our lung function, results in a negative impact to our health.
We should think similarly of the energy requirement of the organism of life, and the function of plants.
Any reduction in the plant cover of Earth, results in a reduction in the availability of energy, to life.
Deforestation is to life, like the habit of smoking is, to a human.
By doing it, we are progressively killing off the interface between us, and something essential not only to our existence, but to the existence of all of life.
With that comparison, we should realise we are already at stage 3 or 4 cancer, as far as deforestation goes.
Quite simply, it has to stop, immediately.
Further, it has to be put back.
We need to put it back.
We humans are solely responsible for removing it, and only we have the power to put it back.
It is our duty to put it back.
There is only one way to do that, we have to allow it to grow again.

We saw how to do that, when the first lockdown happened (the only one that made much difference to our usual activities as a species).
We have to remove our massive demand for energy from it as a species.

To do that we have to remove the fundamental driver, which drives us to keep carrying out deforestation, as well as extraction of fossil fuels; profit.
We have to create our own version of the plants-energy interface, which enebles us to directly connect to the energy required for our species, whilst also removing the thing driving us to carry out deforestation.
With that, we have the energy we need to put back what we took out of our planet.
That is the only way out of our current situation, akin to stage 3 or 4 cancer, to all of life on Earth.
I think you miss all of that, by dismissing deforestation as just "reduction of a natural carbon sink".
It also clarifies whether or not we should do things like geoengineering, or not.
Of course we shouldn’t. That would be the last straw, as surely as another world war.

I have spent the last three or four years researching as a Chartered level Electrical and Systems Engineer and part qualified PhD researcher how to do this, and the answer, and the solution is very clear.

The M o n e y-F u e l T r e e, which can be searched out by anyone interested (remove the spaces between letters but not between words )