Environmental labelling is an accountability mechanism for firms to satisfy growing demands to prove that value chains are sustainably managed. Although the large variety of ecolabels available today can be interpreted as a sign of their success, it is overwhelming both firms and consumers. In this research, we conducted a broad survey (with over 1,000 responses) and interviewed practitioners to study managers’ perspectives on ecolabelling. We present an overview of the benefits, as perceived by practitioners, which motivate the adoption of ecolabels by firms, as well as the sources’ scepticism that question the overall effectiveness of environmental labels.