Abstract A carbon balance assessment estimates that growth of wood fiber and the production and use of paper from three integrated pulp and paper mills resulted in a net sequestration ratio of roughly 1.3 times as much carbon as is emitted to the atmosphere. The study shows the positive contribution of managed forests in mitigating emissions of carbon dioxide from paper manufacture, use, and disposal. The study treats emissions from biofuels and forest decay as equivalent to emissions from combustion of fossil fuels. Carbon emissions include those generated by sources of purchased electricity. As the analysis deliberately uses conservative assumptions, actual net sequestration rates for these mills using other carbon accounting rules may be higher.