And what prevents those who cut down the forest for every felled tree to plant 2-3 new ones? In fact it is not so expensive. Just nobody wants it. Businessman from Europe or America is not interested in the forest in Asia. For them the main money.
Most of the deforested land is immediately converted in to ranches and palm-oil plantations. So there is no scope for reforestation. Even if you plant new trees, it will in no way compensate for the loss. A 2-year old tree can't absorb as much Carbon di Oxide as a 500-year old tree.