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Ingka has received government approval for the purchase of 23,700ha of farmland for forestry conversion and 18,600ha of existing forests, including the Greenheart Group forests. Its first acquisition, the 5,500ha Wisp Hill Station in Otago, was approved in August 2021 for $24.5 million.

Ingka plans to plant nearly 3,000ha of pine over the next five years. After completing the Greenheart purchase, Ingka's forestry holdings will total approximately 30,000ha of production forests and 11,000ha set aside for biodiversity and conservation.

The farm-to-forest conversions have faced opposition from farming communities, with a 'farm-to-forest Ban' bill passing its first reading in Parliament in June 2025. Ingka Investments aims to expand its forest portfolio in Aotearoa New Zealand while adhering to its long-term climate goals without engaging in carbon farming or selling carbon credits.