This KAPSARC Commentary uses the KAPSARC’s Circular Carbon Economy (CCE) Index methodology to construct an aggregate score called the Forest Industry Lens (FIL), which measures the carbon circularity of the world’s major forest industry nations in the four areas of the CCE: reduce, reuse, recycle and remove. The 2025 FIL results show that the forest industry globally displays uneven performance of carbon circularity: most countries excel in one area but show uneven development in others. No country scores well on all of the four indicators corresponding to the four Rs of carbon circularity. Overall, the 2025 FIL shows that sustainability strategies in the world’s major forest industries are not yet holistic and that significant gains can still be achieved through policies to assist with the development of circular carbon economies.