Check my math. That's 500 million tonnes of CO2 annually (500 times what Australia is thinking of sequestering).
One additional volcano going active in a year and Australia's efforts are for nought.
This is insanity.
I suspect you meant that the other way around, that anthropogenic activity is 3% of that emitted by volcanoes. Further, the quote from Fred Singer (above) indicates that the number is more like .3%.