No. Given that the other common alternate is Plastic, Aluminum is much more eco-friendly, provided it is recycled.
Through the extraction of Aluminum is an energy-intensive process and requires a large amount of electricity (which leaves high carbon footprint), but recycling involves simple re-melting which consumes only 5% of the energy required for extraction from ore. There is little wastage in recycling and almost all the aluminum content can be recovered.
Apart from that, even if it is discarded, Aluminum is not as harmful as plastics and will get oxidized to Aluminum Oxide eventually.
(Read more here: Aluminium Foil - Recycling, Source Reduction and Energy Recovery)