CO2 fertilization
Plants need CO2 for photosynthesis.  They generally
obtain this CO2 through stomata, small openings on
their leaves.  But plants also lose water, another
critical substance for their survival, through their
stomata.  This makes it essential that they be able to
control the size of the stomata.  When the CO2
concentration is increased, the stomata do not have
to be as large to take in the same amount of CO2.  So
the plants can survive and continue to grow under
drier conditions.
It is possible that increased CO2 levels in the
atmosphere are leading to enhanced growth rates of
terrestrial plants, accounting for some of the missing
carbon.