There are many direct biological benefits that result from higher atmospheric CO2 concentrations. Two of the most important are increased plant photosynthesis and water-use efficiency.
There appears to be a lot of confusion about the biological benefits of elevated CO2 because the popular media typically fails to report them. Doomsday scenarios of global warming are much more dramatic than the good news of global greening.
With this information, in light of the increasing human demands on vegetation, it is my personal opinion that capping CO2 emissions or reducing them to some prior level would be akin to 'biting the hand that feeds us.
These proven positive consequences of elevated CO2 are infinitely more important than the unsubstantiated predictions of apocalypse that are hypothesized to result from global warming, which itself, may not be occurring from rising atmospheric CO2 levels. The aerial fertilization effect of atmospheric CO2 enrichment is the only aspect of global environmental change about which we can be certain; and to restrict CO2 emissions is to assuredly deny the biosphere the many benefits that accrue from this phenomenon.