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Petroleum refiners, meanwhile, got 2.25percentt of these allowances, although the transportation sector accounts for about 40percentt of emissions.
The availability of these allowances, used by governments all over the world, has nothing to do with tax avoidance.
In a letter to the European Banking Authority, which monitors the industry, Barnier said: "I would like to underline my strong concerns with regard to continuing reports of the use of these allowances.
Not all owners, however, take full advantage of these allowances, either because they don't know about them or choose to ignore them, perhaps out of fear of an audit.
But the prices of these allowances, which are traded by manufacturers and financial institutions, have plummeted to about €5 a ton, compared with €7 a ton a year ago and around €25 per ton in 2008.
The approved proposal will try to shore up prices for permits to emit greenhouse gases by delaying the auctioning of some of these allowances in the coming years through what is called backloading.
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More important, they proposed to tighten the rules for allocating pollution allowances to make emitters pay the government for these allowances instead of getting them for free.
"This finding brings into focus the sheer inadequacy of these allowance payments which fall well below the poverty line," Goldie said.
Of reassurance, these allowances were discontinued completely 1 year after conducting this survey, without substantial impact on meeting attendance, reporting or retention during the following 12 months.
From management's point of view, increasing these allowances was not feasible because of funding constraints.
We estimate that an annual auction of only 3% of these emission allowances would yield €14 billion ($17 billion) to pay for forest protection.
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