A BBC investigation has found that after more than two years the program has boosted electricity bills and given windfall profits to power companies without achieving its touted objective of slashing carbon emissions.

While many think declining oil production would be good for the climate, a new book suggests a chilling scenario of environmental and economic catastrophe. Oil is the biggest single source of greenhouse gases, it argues, but coal and gas are bigger still, and the inevitable growth in their emissions would overwhelm any reduction from oil.

The labeling scheme , operated by the Carbon Trust, will show shoppers how much carbon was emitted in the manufacture and transportation of goods. Participating companies will have to agree to slash the product’s “carbon footprint” to stay in the program.

The BBC reports that the next official report from the Intergovernmental Panel on Climate Change will abandon the conditional language of previous editions.