Semantic completeness and reporting gaps in climate disclosures: evidence from construction and energy companies under ESRS E1

In response to escalating climate challenges, the European Union has strengthened its regulatory framework, increasing the demand for detailed and reliable climate disclosures, particularly in carbon-intensive sectors. This study examines the transparency and preparedness of construction and energy companies ahead of mandatory ESRS E1 reporting, focusing on disclosure completeness and the consistency between declared readiness and actual reporting practices. We develop an analytical framework combining a Semantic Completeness Index (SCI) with chi-square tests to verify companies’ self-assessed readiness. The analysis covers non-financial reports from 2021–2023 and all nine ESRS E1 indicators (E1-1 to E1-9), supported by cluster analysis to identify sectoral patterns; the authors comprise 32 companies: 12 from the construction sector and 20 from the energy sector. The results reveal generally low semantic completeness, especially for transition plans and climate risk assessments, and a persistent gap between declared and actual disclosures. The lowest levels of completeness are observed for E1-2 to E1-4, with fewer than 25% of companies in either sector providing complete disclosures. For E1-7 and E1-8, most construction companies remain semantically incomplete, while around 50% of energy companies report more complete information. Overall, despite growing awareness of ESRS E1, many companies remain insufficiently prepared for forthcoming reporting obligations. From a policy and practical perspective, the findings highlight the need for clearer ESRS E1 implementation guidance and internal reporting frameworks that support consistency and comparability of climate disclosures across sectors.