Assessments of synergies and trade-offs between climate change mitigation and forest biodiversity conservation have focused on set-aside areas. We evaluated a more comprehensive portfolio of silvicultural management adaptations to climate change and conservation measures exemplary for managed European beech forests. Based on the available literature, we assessed a range of common silvicultural management and conservation measures for their effects on carbon sequestration in forest and wood products and for substituting more carbon-intensive products. We complemented this review with carbon sequestration simulations for a typical mountainous beech forest region in Austria. We propose three priority actions to enhance the synergies between climate change mitigation and biodiversity. First, actively increase the proportion of European beech in secondary Norway spruce forests, even though beech will not be unaffected by expected water supply limitations. Secondly, optimize the benefits of shelterwood systems and promote uneven-aged forestry, and thirdly, enhance mixed tree species. Targeted conservation measures (deadwood, habitat trees, and old forest patches) increase the total C storage but decrease the annual C sequestration in forests, particularly in wood products. The establishment of a beech wood market with an extended product portfolio to reduce the use of fuelwood is essential for sustainable climate change mitigation. Since there are limitations in the production of saw timber quality beech wood on low fertility sites, C accumulation, and biodiversity can be emphasized in these areas.