Incidence of carbon-credit and carbon-debit falls on different parties.
Those growing trees obtain plenty of credits - I have confirmed this with one of the biggest forestry companies in NZ. Their comment to me is that NZ investors and businesses are not suited to long term horizon business like forestry.
So sadly, from when NZ companies owned most of the forests in NZ (NZ Forests Products, Fletcher Forests, Carter Holt Evergreen Forests etc etc etc), NZ now owns bugger all!