The Budget "fails to prepare" for the scale of tree-planting needed for New Zealand to meet its Paris Agreement commitments on climate change, a national forestry owners group says.
Among the Government's climate-related spending this year is $19.5m for the Afforestation Grants Scheme (AGS), designed to encourage the planting of more forestry to help lock up atmospheric carbon.
Earlier this week, the Government announced another 5.5 million trees would be planted this winter.
But the Forestry Owners Association today said the AGS "just scratches the surface" of what was needed.
"There is plenty of private money, both within New Zealand and offshore that would invest in tree planting if the policies impacting on land use and land values were to put forestry on a level playing field with pastoral agriculture," the group's president, Peter Clark, said.