I think it has to be a bit of both. If we ever want to reach any co2 goal, it'll have to be with both less consumption and less pollution in production. Or a drastic reduction in the population, but let's hope that won't happen.

I do feel like the carbon footprint is a campaign similar to the other green washing campaigns.

I don't think there is any other option than a global co2 tax. It's not like the economic system is going to change any time soon and 'evil greedy basters' are good at minimizing costs so this will have an impact. And this tax will cause polluting product to just cost more so either there use will go down or the tax can be used for other reductions.

There have even been companies that ask for it. They can't justify heavy investments to pollute less if their competitors don't have to.