photosynthesis removes CO2 from the air and creates sugars that can be used to make tissue. Most occurs in the ocean. It reduces the concentration of CO2 in the air. CO2 also enhances plant growth. More tissue is produced. Some plant species become more drought tolerance (water use efficiency is increased). Also, photosynthesis stops is it gets to hot. With higher CO2 concentrations, some species can tolerate hotter environments.
The problem is more CO2 is being produced by combustion of fossil fuels than the plants can take up. Also, in some parts of the world, plants are being displaced, or their environments to polluted to get good growth. We need to get a better balance between the amount of CO2 we produce and the amount in photosynthesis.