In this paper, the main characteristics of China’s paper and paper products industry’s greenhouse gas emissions were examined, and the technological path to reduce its carbon potential was analyzed from the perspective of the greenhouse gas emissions accounting methodology of China’s paper and paper products manufacturing enterprises. The results showed that the sources of carbon emissions in the industry were mainly fossil fuel combustion emissions, as well as emissions generated by net purchased electricity or heat. The key means of reducing carbon emissions from the industry was orderly alternative fuel use and optimization of the energy mix.