Rainforests play a crucial role in regulating the climate by absorbing carbon dioxide through photosynthesis, which helps to reduce the amount of greenhouse gases in the atmosphere. They also release oxygen as a byproduct, which is essential for all living organisms. Additionally, rainforests help to maintain global rainfall patterns by promoting evaporation and transpiration, which contribute to the formation of clouds and precipitation. Overall, rainforests are important in stabilizing the Earth's climate system.