The government's Permanent Forest Sink Initiative looks to have paid off already, with Ngati Porou planning to plant 30,000 hectares in permanent forest on the East Coast. This is expected to sequester 15 million tons of carbon dioxide over the next few decades, which at NZ$30 a ton will yield $450 million for Ngati Porou and its investment partner. Not bad for land that was just sitting there and doing nothing - and all they have to do is plant the trees and sit back and watch them grow.
On the down side, the desire for quick carbon uptake means they will be planting mostly eucalyptus rather than natives. But at least there'll be trees rather than bare hillside.