Given global warming, carbon peaking and carbon neutrality strategies have become imperative. Based on the multivariate heterogeneous data of China’s industrial enterprises, enterprise pollution emissions and customs databases, this study uses a two-way fixed effects panel model to examine the impact of exports on carbon emission reduction and the mechanism of this effect from the enterprise perspective. The results show that with the increase in enterprise exports, carbon emission intensity decreases; that is, exports can promote carbon emission reduction among enterprises. Heterogeneity analysis shows that as far as enterprise characteristics are concerned, the exports of those enterprises with domestic funding and low energy consumption lead to a higher level of carbon emission reduction. In terms of product characteristics, the exports of those enterprises with a high concentration of products in the domestic market and low product prices abroad lead to a higher level of carbon emission reduction. Mechanism analysis shows that a decline in the use intensity of high carbon energy, the improvement of enterprise productivity and the increase in investment in emission reduction equipment are important channels through which enterprise exports can reduce carbon emission intensity. This study provides policy inspiration for improving sustainable trade development and achieving the goals of carbon peaking and carbon neutrality.