It is important to note that until present the capture of CO2 is not perfect. While theoretically some the CO2 emissions could be avoided, a residual amount would still leak into the atmosphere. As CO2 accumulates in the atmosphere, it would either lead to continued (yet slower) warming, or have to be compensated by the active removal of CO2 from the atmosphere, which is also not yet proven to work economically.

This is correct. While many countries show gradual declines in their emissions, global emissions are not yet declining. The past few years, global annual CO2 emissions have not increased as much as they did previously and remained roughly constant. However, to halt global mean temperature rise annual CO2 emissions have to become zero.

The current understanding of interactions between the global carbon cycle and the climate system is that when global CO2 emissions are reduced to zero, the warming will remain approximately constant. This is very often confused by estimates of committed "warming in the pipeline" which instead of assuming that global emissions are reduced to zero, assume that concentrations (and therewith to a large degree forcing) are kept constant. Keeping CO2 concentrations constant would require continuous emissions of CO2 that perfectly counter the uptake by natural sinks. If CO2 emissions are reduced to zero, atmospheric CO2 concentrations will gradually decline. For heat-trapping emissions other than CO2, the requirement to reduce them to zero to stabilize warming depends on their residence time in the atmosphere. For gases and particles that only stay in the atmosphere for shorter time periods (days to a decade) achieving constant emissions would also achieve approximately stabilized warming.

This statement is imprecise, and depends on value judgments of what "too late" means. Even emitting only a fraction of the available unburned fossil fuels would eliminate important ecosystems like coral reef habitats. For these ecosystems it will thus be too late. Because part of the CO2 that is emitted will remain in the atmosphere for many centuries, climate change constitutes a cumulative problem. Halting CO2 emissions before the last fossil fuel has been burned thus indeed commits the world to less impacts than the theoretically maximum. However, whether this is not "too late" depends on whether no irreversible or societally unacceptable impacts were reached before that point. The latter requires societal value judgments informed by scientific assessments, but is ultimately not a scientific question.