New Zealand's sheep farmers are flocking to a government carbon trading program that pays more to plant trees than sell wool and mutton.
The system, begun in 2008 and the only one of its kind outside Europe, awards farmers credits that are sold to offset greenhouse gas emissions. The project may earn them about $NZ600 a hectare ($193 per acre) a year on land unprofitable for grazing animals, said David Evison, a senior lecturer at the University of Canterbury's New Zealand School of Forestry.