Does using compressed CO2 in open turbines count towards carbon sequestration checkpoint? Or does it counteract the effects of venting oxygen?

I used to make energy out of it until the checkpoint was almost blocking the whole remaining research. I switched to CO2 electrolysis and carbon deposition. This massively increased the amounts of graphite I produce. Naturally this goes into coal. But there is a twist that rubber is needed. The bio rubber production creates excess wood and wood chips. The only option to get rid of them is to burn them or turn them into graphite directly. But this increases rubber demands even more.

Maybe the problem is the is producing rubber from trees which I thought is the ultimate option as bio research is expensive in terms of effort.

I ended up with 300k of each wood box, wood chip box and graphite box with the last one accumulating with light speed so I must have done something terribly wrong.

Played with factory planner and found solution for carbon and I guess it makes sense now since those methods increase the amount of oxygen I generate. But I am still curious about what actually counteracts the oxygen venting. Just venting of carbon or using it in turbines too?

Check the tooltip for each gas. It says how much it counteracts the oxygen venting mission goal. Venting carbon dioxide doesn't counteract it at all, but other gases like hydrogen or carbon monoxide do. Using a gas in an open turbine counts the same as venting it.

For the sake of the checkpoint, it's simpler than the final mission objective. Producing oxygen counts toward the carbon sequestration checkpoint and nothing counteracts it. Consuming (not venting) counts for carbon dioxide. But for the sake of that checkpoint, growing algae, grass, or trees in your factory also counts as "consuming" carbon dioxide, even though the recipes take air.