diff --git a/src/dotenv/main.py b/src/dotenv/main.py
index b5943b20..3600a4ef 100644
--- a/src/dotenv/main.py
+++ b/src/dotenv/main.py
@@ -87,6 +87,9 @@ def set_as_environment_variables(self) -> bool:
         """
         Load the current dotenv as system environment variable.
         """
+        if not self.dict():
+            return False
+
         for k, v in self.dict().items():
             if k in os.environ and not self.override:
                 continue
diff --git a/tests/test_main.py b/tests/test_main.py
index 364fc24d..1da8874c 100644
--- a/tests/test_main.py
+++ b/tests/test_main.py
@@ -259,8 +259,9 @@ def test_load_dotenv_no_file_verbose():
     logger = logging.getLogger("dotenv.main")
 
     with mock.patch.object(logger, "info") as mock_info:
-        dotenv.load_dotenv('.does_not_exist', verbose=True)
+        result = dotenv.load_dotenv('.does_not_exist', verbose=True)
 
+    assert result is False
     mock_info.assert_called_once_with("Python-dotenv could not find configuration file %s.", ".does_not_exist")