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Community forest management (CFM) has gained prominence globally and shown great value as a community-based conservation approach to protecting and sustainably managing forest ecosystems while, at the same time, devolving tenure rights to local populations and stimulating local livelihoods and economies. Given CFM’s relative successes and socioeconomic goals, it is often assumed to be an inherently just approach. Here, we challenge that assumption. We present a framework rooted in environmental justice to uncover how some initiatives can perpetuate or exacerbate unfairness and thus undermine the core purpose and spirit of CFM. We put forward three questions on the fairness of CFM programs. First, we call to question the imposition of new CFM-related restrictions and rules, considering Indigenous and local communities’ legal autonomy and/or long-standing de facto rights. Second, we interrogate the burden of CFM-related economic costs and opportunity costs, in light of communities’ poverty conditions and vulnerable livelihoods. Third, we examine the fairness of focusing on the role of local communities in tackling deforestation and forest degradation, given these groups might not be the ones primarily responsible for those problems. Our discussion exposes several contradictions, trade-offs and justice implications of CFM that have remained largely unrecognized. We conclude by providing recommendations for a more just approach that centers a rights-needs-merit rationale. Our analysis is relevant for community-based conservation efforts around the globe.