Abstract: Afforestation and reforestation, when aligned with site-specific ecological and socioeconomic conditions, can enhance ecosystem functions and services (ESs). In the Mediterranean, European black pine is widely used in such projects. While management strategies to maximize timber yield are well studied, the economic valuation of multiple ESs and their trade-offs remains limited. This study employed a process-based forest growth model, incorporating climate, soil and stand structure, to assess the effects of thinning intensity and frequency on the provision and economic value of ESs, namely carbon sequestration, erosion control and recreational/aesthetic value, in Italian black pine stands. Results show that while intense and frequent thinning boosts growth, optimal economic outcomes were achieved with 25% basal area removal every 25 years, yielding €57,000–69000 ha^–1, about 30% more than high-intensity, short-rotation regimes. Non-provisioning ESs declined with heavier thinning (up to 22% loss between 15 and 35% intensity) and improved with longer thinning intervals (up to 18% gain from 10 to 25 years). Strikingly speaking, aesthetic and carbon sequestration benefits dominated total value, accounting for up to 99%, regardless of regime. These findings underscore the importance of long-term, balanced thinning strategies to optimize both wood production and broader ESs. The modeling approach offers practical guidance for multifunctional forest management, supporting more sustainable and economically viable decisions. While tailored to Italy’s context, the insights are relevant to policy and practice across Mediterranean and comparable forest systems.

Key words: Forest management, Thinning, Modeling, Ecosystem services, Carbon cycle, Pinus nigra, Pinus laricio