Value-added forest management planning: A new perspective on old-growth forest conservation in the fire-prone boreal landscape of Canada

•Mature and old-growth forest stages are important to sustain ecosystem functions.•Commonly used forest planning models do not value old-growth forests adequately.•Planning models that retain old-growth forest may lower economic returns.•Accounting for the potential impact of fires may reduce high-value sustained supply.•We propose a new planning model that reduces fire risk to the ecosystem and economy.