GISBORNE, New Zealand — Horehore Station, a sheep and cattle ranch, sprawls across 4,000 acres on New Zealand’s North Island, its jagged expanse of uneven hills and steep gullies blanketed in lush green grass.It is good, productive farmland, despite the rugged landscape. But it soon won’t be a farm anymore.The land’s owner, John Hindrup, who bought it in 2013 for 1.8 million New Zealand dollars, sold it this year for 13 million, or $8.2 million. His windfall came courtesy of a newly lucrative industry in New Zealand: Forestry investors will cover the property in trees, making money not from their timber, but from the carbon the trees will suck from the atmosphere.“If you told me this two years ago, I wouldn’ …
