The CO2 is emitted in the lime 'burning', not the slaking (2CaO + H2O --> 2CaoH). And while setting of the mortar will absorb the same amount of CO2 released by the reaction CaCO3 --> CaO + CO2, the majority of the CO2 produced by lime burning is usually from the burning of the fuel to generate the heat needed for the endothermic reaction. (Of course, if it is doe in an electric furnace, using renewable electricity.... but it never is!)
John

