Abstract: Under the strategic background of carbon peak and carbon neutrality, green strategic alliances, as a novel form of inter-firm collaboration, establish resource flow channels through green contracts, which holds significant implications for corporate carbon emission reduction. Grounded in the resource-based view, this study examines the impact of green strategic alliances on corporate carbon emission reduction using textual data from strategic alliance announcements issued by China’s A-share listed companies during 2017-2021. The findings reveal that participation in green strategic alliances significantly enhances corporate carbon reduction performance. This conclusion remains robust after conducting entropy balancing matching, excluding energy-intensive industries, and replacing explanatory variables. Mechanism analysis demonstrates that such alliances facilitate carbon reduction by elevating firms’ green technology innovation levels. Furthermore, the carbon reduction effect is more pronounced among non-state-owned enterprises, firms in central and western regions, and those with advanced digital transformation. This study elucidates the impact and underlying mechanisms of green strategic alliances on corporate carbon reduction while providing policy implications for fostering green alliances and achieving dual-carbon objectives.