Forests have considerable potential to help mitigate human-caused climate change and provide society with many cobenefits. However, climate-driven risks may fundamentally compromise forest carbon sinks in the 21st century. Here, we synthesize the current understanding of climate-driven risks to forest stability from fire, drought, biotic agents, and other disturbances. We review how efforts to use forests as natural climate solutions presently consider and could more fully embrace current scientific knowledge to account for these climate-driven risks. Recent advances in vegetation physiology, disturbance ecology, mechanistic vegetation modeling, large-scale ecological observation networks, and remote sensing are improving current estimates and forecasts of the risks to forest stability. A more holistic understanding and quantification of such risks will help policy-makers and other stakeholders effectively use forests as natural climate solutions.

Carbon offsets are widely used by individuals, corporations, and governments to mitigate their greenhouse gas emissions on the assumption that offsets reflect equivalent climate benefits achieved elsewhere. These climate‐equivalence claims depend on offsets providing real and additional climate benefits beyond what would have happened, counterfactually, without the offsets project. Here, we evaluate the design of California's prominent forest carbon offsets program and demonstrate that its climate‐equivalence claims fall far short on the basis of directly observable evidence. By design, California's program awards large volumes of offset credits to forest projects with carbon stocks that exceed regional averages. This paradigm allows for adverse selection, which could occur if project developers preferentially select forests that are ecologically distinct from unrepresentative regional averages. By digitizing and analyzing comprehensive offset project records alongside detailed forest inventory data, we provide direct evidence that comparing projects against coarse regional carbon averages has led to systematic over‐crediting of 30.0 million tCO2e (90% CI: 20.5–38.6 million tCO2e) or 29.4% of the credits we analyzed (90% CI: 20.1%–37.8%). These excess credits are worth an estimated $410 million (90% CI: $280–$528 million) at recent market prices. Rather than improve forest management to store additional carbon, California's forest offsets program creates incentives to generate offset credits that do not reflect real climate benefits.

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Forests are currently a substantial carbon sink globally. Many climate change mitigation strategies leverage forest preservation and expansion, but rely on forests storing carbon for decades to centuries. Yet climate‐driven disturbances pose critical risks to the long‐term stability of forest carbon. We quantify the climate drivers that influence wildfire and climate stress‐driven tree mortality, including a separate insect‐driven tree mortality, for the contiguous United States for current (1984–2018) and project these future disturbance risks over the 21st century. We find that current risks are widespread and projected to increase across different emissions scenarios by a factor of >4 for fire and >1.3 for climate‐stress mortality. These forest disturbance risks highlight pervasive climate‐sensitive disturbance impacts on US forests and raise questions about the risk management approach taken by forest carbon offset policies. Our results provide US‐wide risk maps of key climate‐sensitive disturbances for improving carbon cycle modeling, conservation and climate policy.