As a typical resource-based region, Xinjiang is under increasing pressure to reduce carbon emissions. The ability to identify the drivers of carbon emissions in the industry and mapping out key emission reduction paths are core components of achieving carbon emission reduction in Xinjiang. This research incorporates energy and environmental factors, constructs a hybrid input–output model of “energy-environment-economy,” and uses the environmental input–output structural decomposition (EIO-SDA) and structural path decomposition (SPD) methods to analyze the drivers of carbon emissions from energy consumption and key emission reduction paths in Xinjiang. First, it shows that the economic-scale effect and the energy-intensity effect are the biggest facilitators of carbon emissions and most significant barriers to carbon emission reduction in Xinjiang. Second, capital formation and domestic trade are the primary sources of demand driving changes in carbon emissions in Xinjiang. Third, sectors involving the production and supply of electricity and heat, such as heavy manufacturing and energy industries, including petroleum processing, coking, nuclear, fuel processing, and chemical industries, are the key sectors responsible for carbon emission reduction in Xinjiang. Last, in terms of industry chains, “metal smelting and rolling processing industry/non-metallic mineral products industry—construction industry—fixed capital formation” and “oil and gas extraction industry (S20)—(intermediate sector)—final demand” are the most important paths driving the growth and decline of carbon dioxide (CO2) emissions from Xinjiang industries, respectively. To promote Xinjiang's carbon emission reduction targets, the Xinjiang government should actively improve its energy structure, promote a change in demand growth patterns, and formulate comprehensive management policies for high-carbon-transfer industries according to an industry chain perspective.