Addressing climate change requires carbon emission reduction. China is the world’s largest emitter, with the energy sector accounting for more than 88% of total carbon emissions. The dominant role of coal in the energy mix has led to consistently high emission levels, and its position is difficult to replace in the short term. Consequently, adjusting the national energy mix while developing cleaner energy sources has become a crucial strategy for emission reduction. Coalbed methane (CBM), as a cleaner alternative, when cooperatively extracted with coal, presents a promising solution for alleviating energy shortages and low-carbon development. This study develops a multi-objective optimization model based on the coordinated extraction mechanism of coal and CBM. The model helps enterprises balance energy extraction, emission reduction, and profit. A case study involving five CBM enterprises in Liupanshui, Guizhou Province, is conducted to validate the model. Sensitivity analysis further confirms the model’s applicability under various price scenarios. The results indicate that during the coordinated extraction process, decision-makers can adopt an optimistic approach toward increasing energy output while moderately raising emission reduction targets to maximize profits. This research provides valuable insights for decision-making in the coordinated development of coal and CBM.