This study tested the application of the Natural Capital Coalition’s Forest Products Sector Guide of the Natural Capital Protocol to a recent forest creation project at Larriston in the Scottish Borders. It was the first study in the UK to apply the Natural Capital Protocol to the forestry sector. Its main purpose was to explore the insights from applying the Sector Guide and how this might inform the consideration of natural capital in future forest creation projects. The study covered six different material impacts or dependencies using qualitative, quantitative and/or monetary approaches. Following analysis of these, recommendations for future assessments and research were provided.