This publication examines the numerous and complex connections between the global forest products industry (taken here to include roundwood production, pulp and paper, and wood processing) and the global carbon cycle, with the objective of characterizing the carbon footprint of the sector. The study considers six types of industry impact: carbon sequestration and storage in forests and forest products; emissions from manufacturing facilities or from electricity producers supplying these faciliti es; other emissions attributable to product manufacturing; emissions from product transport and use; emissions associated with end-of-life management; and emissions avoided elsewhere in society owing to the forest products industry. The analysis finds that the industry’s main sources of emissions are manufacturing (mostly because of fossil fuel consumption and electricity purchases) and disposal of used products in landfills. Globally, the impact of the industry on carbon in forests cannot be de scribed quantitatively because of the lack of data in many parts of the world and the complexity of the industry’s raw material supply chain. Data from some countries, however, suggest that sustainable forest management practices can be effective in keeping forest carbon stocks stable over time. Some of the carbon removed from the forest remains stored in forest products, providing significant benefits. Indirect greenhouse gas benefits resulting from the activities or products of the forest prod ucts industry, while difficult to measure, can be large and could be increased.