Since food consumption contributes significantly to greenhouse gas emissions it is important field of action for consumer engagement. In this context, the present article looks into the question if carbon footprint labels are a suitable mean to foster climate-friendly food purchase behavior. By means of a mixed methods approach comprising choice experiments and qualitative face-to-face interviews European consumers’ preferences and willingness to pay for carbon footprint labels compared to other sustainability labels as well as socio-psychological barriers for climate-friendly consumption are explored. The results reveal that consumers are prepared to pay a price premium for carbon footprint labels but that label skepticism and fatigue as well as a lack in awareness about the impact of food production and consumption on climate change are major barriers for climate-friendly purchase behavior. Information provision in form of carbon footprint labels can only be one part of the solution. Political engagement and engagement by the retail are incremental for success.