Projected warming in Sweden and other Fennoscandian countries will probably increase growth rates of forest trees near their northern limits, increase the probability of new pest outbreaks, and foster northerly migration of both native and exotic species. The greatest challenges for sustainable forestry are to restore and enhance the ecological and socioeconomic diversity of intensively managed forested landscapes. With appropriate management, climate warming may facilitate the regeneration of this diversity. Experimental transplant gardens along latitudinal or altitudinal gradients and high-resolution maps of expected future climate could provide a scientific basis for predicting the climate response of potential migrant species. Management of corridors and assisted migration could speed the movement of appropriate species.