The present invention relates to a composition comprising a lignin polyol, a method for the manufacturing of said composition and use thereof in different application areas, such as in adhesives, binders, castings, foams (such as in rigid polyurethane and polyisocyanurate foams for thermal insulation and construction applications, semi-rigid, flexible, moulded, laminated, microcellular and viscoelastic polyurethane foams), fillers, glues, sealants, elastomers and rubbers. The present invention also relates to a method for the manufacturing of a foam and use of this foam.