Forests play a vital role in Europe's economy, society and environment[1]. Scenarios likely to keep the global warming below 2oC (Paris Agreement goal) would entail a substantial reduction of anthropogenic GHG emissions, through far-reaching changes to energy systems, land use and associated value chains. The second consumer-driven factor of GHG emissions is the construction sector (ca. 15%), implying a significant role for forest-based products. The forest-based sector can contribute to climate change mitigation through increasing sinks in and reducing emissions from living biomass, soils and wood products, and the substitution of fossil fuels through the material and energy use of wood-based materials. The combined sink and substitution effects of wood value chains can provide a key mitigation option, provided that changes in fossil and biogenic carbon are taken into account in a comprehensive and balanced manner. Several research projects[2] and COST Actions[3] launched in FP7 looked into the development of innovative, resource efficient wood-based products. While ensuring the sustainability of forest production systems under changing climate conditions remains a long-term objective for the sector, a key challenge now is to further develop and deploy the technological advancements of micro/macroclimate-friendly wood-based value chains on the ground.