The observed increase in global average temperature during the last half century is most likely due to the concurrent increase in atmospheric greenhouse gases. In order to avoid dangerous global warming, other mitigation strategies besides emission reduction have to be developed. Forests store carbon while growing and forest management can aim at increasing carbon stocks in- and outside the forest. The book explores impacts of past and recent forest management on the forest sector carbon balance. Results reveal that the inclusion of all mitigation services offered by the forestry sector matters with respect to climate benefits and land-owner revenue. An ecosystem-centered view favors the conservation of carbon in forests while an accounting of wood products and substitution effects offers opportunities in long-rotation timber and bioenergy production. Countries under the Kyoto Protocol may include carbon sinks resulting from forestry activities since 1990 to meet reduction targets. Effects of past practices and disturbances, however, may overwhelm effects of recent management. The book examines how this legacy effect can be accounted for to set incentives for improved management.