Forests provide many important benefits. They are a source of wood and other products like paper, fiberboard and medicines. Forests also play an important role in protecting the environment by preventing soil erosion, regulating snow melt and wind patterns. They lower temperatures by providing shade. Forests serve as habitats for wildlife and indigenous people, with about 50% of all species calling forests their home. Finally, forests have a significant impact on climate by absorbing carbon dioxide and releasing oxygen.