The ecosystem approach has been adopted as the framework of the Convention on Biological Diversity, and is recommended to be used widely in the integrated management of land, water and living resources, to promote conservation and sustainable use in an equitable way, also in corporations. The forest industry is a resource-intensive branch with various impacts on aquatic and terrestrial ecosystems. Our aims in this study were to examine (i) how the ecosystem approach is implemented in the Finnish forest industry; and (ii) to outline the mental models of environmental experts of corporations, and their conceptualization of some key terms of ecosystem thinking. We interviewed 12 experts about their opinions on the main future challenges, the risks, the mistakes of the past, the possibilities and the successes confronting the forest industry. The results were analyzed using the DPSIR (Driving forces-Pressures-State-Impacts-Responses) framework model. Finally, we give several recommendations as to how the ecosystem approach can be integrated into corporate environmental management.