Under the strategic imperatives of the carbon peaking and carbon neutrality goals and the strategy of a country with strong transportation network, canal construction projects present substantial environmental challenges. The sector’s large-scale engineering projects consume massive energy and material resources, resulting in substantial carbon emissions. Achieving emission reduction has become a critical imperative for boosting sustainable development in China’s transportation infrastructure. Using the Pinglu Canal Project as a case study, this paper reviews current methodologies for carbon accounting in hydraulic engineering and evaluates emerging low-carbon construction technologies. Furthermore, the paper offers three strategic development suggestions, including standardized emission metrics of canals, carbon reduction technology development, and realization path of carbon sink value.