Conservation voltage reduction (CVR) technology is an effective approach to promote system energy saving and alleviate peak power supply pressure. Existing CVR technology mainly achieves energy-saving by studying the coupling relationship between “voltage and power flow”. However, the mapping relationship between “voltage and carbon flow” is unclear, leaving the carbon reduction potential of CVR technology underexplored. To address this, an analytical relationship between “electric potential and carbon potential” is established, with the primary objectives of reducing carbon emissions and active power consumption. Firstly, CVR technology models considering the temporal and spatial variations of carbon emission intensity are developed, exploring the impact of load characteristics on the effectiveness of CVR technology. Secondly, a coordinated “voltage-carbon emission” optimization control scheme for active distribution networks based on CVR technology is proposed, integrating methods such as voltage control and optimal power flow for analysis and solution. Finally, the IEEE 33-node system is used to validate the effectiveness of the proposed coordinated control strategy. The results demonstrate that the inconsistency between energy saving and carbon reduction targets is verified, and the effect of carbon reduction is improved by 0.65% and 3.8% respectively; the coordinated optimization method can enhance carbon reduction outcomes by tailoring control strategies to different benefit stakeholders.