Forests play a complex role in promoting local, regional and international sustainability.  Forests both sequester carbon emissions and provide a variety of eco-system services including promoting bio-diversity and protect soil erosion, while also providing a cheap renewable fuel and feedstock for the pulp and paper, and wood products industry. 

Protecting and managing forests to secure greenhouse gas reductions involve at least two types of programs and projects: (1) Afforestation and reforestation projects and (2) Reduced Emissions from Deforestation and Degradation (REDD) Projects 
Afforestation and Reforestation Projects 
Afforestation refers to planting trees or otherwise converting non-forested to forested land. Afforestation refers to establishing forests on land that has historically not had forest cover, while reforestation refers to lands that had been deforested, generally prior to a specific cut-off date.  Specifically, afforestation is defined under the CDM as the “direct human-induced conversion of non-forested to forested land through planting, seeding and/or the human-induced promotion of natural seed sources” on lands where no forest has existed for 50 years (afforestation) or where deforestation has taken place more recently but prior to 1989 (reforestation). 
Reduced Emissions from Deforestation and Degradation (REDD) Projects 
REDD projects aim to avoid the conversion of forests to non-forested areas (deforestation) or to avoid activities that reduce their carbon stocks without leading to outright conversion (degradation).  Developing REDD projects is a complex process since the local and international rules governing creating REDD “credits” are not yet finalized.
Forests also produce wood and wood products that contribute toward a world-wide trade in associated commodities.  Woody biomass includes low quality and undersized trees unsuitable for lumber or paper, as well as limbs, wood chips, and saw dust. Combustion of this material in the form of chips, pellets or torrified product produces energy in the form of heat and power and can support a significant export product.
Forest product are a vast industry build on a root structure that reaches out to local , mainly, rural communities while support a  large network of industry from furniture, paper, fuels, shipping, etc., etc.
The following websites can provide useful information on forestry matters:
UNEP report on why do forests matter and their value.  This report describes the role forests play a major role in the ongoing battle against climate change, sequestering CO2 into oxygen while building biomass and acting as storage containers for carbon. Tropical forests absorb 14% of the world’s carbon dioxide emissions every year
The World Resources Institute and the World Business Council for Sustainable Development have partnered to provide reliable, impartial and technically "easy-to-understand" information to assist sustainability officers and business procurement managers, especially major purchasers of wood and paper-based products, in their purchasing.  Below is an extensive bibliography.
The UN-REDD Programme is the United Nations Collaborative initiative on Reducing Emissions from Deforestation and forest Degradation (REDD) in developing countries. The Programme was launched in September 2008 to assist developing countries prepare and implement national REDD+ strategies, and builds on the convening power and expertise of the Food and Agriculture Organization of the United Nations (FAO), the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP).   The Programme currently supports 42 partner countries spanning Africa, Asia-Pacific and Latin America, of which 16 are receiving support to National Programme activities. These 16 countries are: Bolivia, Cambodia, Democratic Republic of the Congo (DRC), Ecuador, Indonesia, Nigeria, Panama, Papua New Guinea, Paraguay, the Philippines, Republic of Congo, Solomon Islands, Sri Lanka, Tanzania, Viet Nam and Zambia. 
Wood pellets and wood chips
A group of leading biomass companies in Brazil formed the Brazilian Association of Industry Biomass and Renewable Energy or Biomass Thermal Energy Council dedicated to advancing the use of biomass for heat and other thermal energy applications. The founding members of ABIB include biomass fuel producers, appliance manufacturers and distributors, and supply chain companies that represent the breadth of interests in the fast growing biomass thermal energy industry.
Links to wood pellet internet site, especially for European industry
The Wood Pellet Association of Canada is a member-driven organization advancing the interests of Canadian wood pellet producers.  Their goal is to help members grow through promoting the role of wood pellets in the Canadian and global markets, supporting market and technical research, and encouraging fair and open energy trade.