For the European Commission, and as part of Romania's accession process into the European Union, STELLA managed a study that constitutes a credible and useful basis for assisting Romanian authorities in the accession negotiations. The study makes a realistic assessment of the costs and benefits of transposing in five of Romania's industrial sectors the European environmental directives that require the heaviest investments, in particular the Industrial Pollution Prevention and Control (IPPC) and Large Combustion Plants (LCP) directives. The study also recommends policies that ensure an efficient transition towards European standards, produces an agenda for adopting these standards, and identifies timeframes for reaching them. It reviews the situation in five sectors -production of chemicals and petrochemicals, steel, energy, construction materials, and mining- providing recommendations for possible immediate ways to improve the situation in each case. In each of these sectors, STELLA evaluated the unit costs of various options to comply with the EU directives and prepared methods to calculate annualised costs and benefits.