My town did this, and I immediately went from picking up 1-2 plastic bags from my yard every week to basically zero in the last 4 years. I have no idea what the net impact on carbon emissions or other factors was, but the reduction in visible trash in my neighborhood was noticeable, immediate and seemingly permanent.
Yes. I feel like people often solely focus on CO2 emissions as the only metric. Especially some detractors of ecological pushes and regulations. Like "it doesn't really decrease CO2 output, so what the point", or "it's such a tiny fraction compared to X industry of Y country, and such an inconvenience so what's the point". I just don't understand how producing less stuff whose sole objective is to end up, in the best case, directly in landfill, is bad