Current policy pledges promote the expansion of conservation areas and mixed forests with endemic species. Climate change, however, may undermine these efforts and modify the relationships and benefits related to the ecosystem services provided by forest ecosystems. Hence, managers must account for climate impacts on future forest dynamics, based on the understanding of processes and functions. Here, we address this issue and compute the value of multiple ecosystem services (wood production, carbon sequestration and biodiversity conservation) linked to European beech forests, considering local economic conditions. Our results show that mature European beech forests may sequester up to 4 tC.ha−1.year−1 and contribute to climate mitigation actions. The optimal management solutions may focus on wood production in regions with higher productivity and wood price. In regions with high productivity and low interest rates, carbon sequestration and biodiversity conservation may be simultaneously promoted by an expansion of forest conservation areas. In general, biodiversity conservation and carbon sequestration acted synergistically. In contrast, wood production displayed trade-offs with the former ecosystem services, especially in countries with higher interest rates and low wood price. We conclude that forest productivity and local socio-economic conditions may mediate the trade-offs and synergies among ecosystem services.