National Forest Inventory (NFI) data are the main source of information on forest resources at country and subcountry levels. This chapter explores the strengths and limitations of NFI-derived indicators to assess forest development with respect to adaptation to and mitigation of climate change, that is, the criteria of Climate-Smart Forestry (CSF). We reflect on harmonizing NFI-based indicators across Europe, use literature to scrutinize available indicators to evaluate CSF, and apply them in 1) Switzerland, where CSF is evaluated for NFI records and simulation model projections with four management scenarios; 2) 43 selected European countries, for which the indicators for Sustainable Forest Management (SFM) are used. The indicators were aggregated to composite indices for adaptation and mitigation and to an overall CSF rating. The Swiss NFI records showed increased CSF ratings in mountainous regions, where growing stocks increased. Simulations under business-as-usual management led to a positive CSF rating, whereas scenarios of increased harvesting decreased either only adaptation or both mitigation and adaptation. European-level results showed increases in CSF ratings for most countries. Negative adaptation ratings were mostly due to forest damages. We discuss the limitations of the indicator approach, consider the broader context of international greenhouse gas reporting, and conclude with policy recommendations.