Palm oil production involves unit operations that lead to greenhouse gas emissions. A typical mill is estimated to produce greenhouse gas emissions of 637–1,131 kg CO2 eq/t crude palm oil. There has been a huge effort to reduce the carbon footprint of palm oil mills. However, the data from such research have not been consolidated. This paper reviews significant information, results, and conclusions derived from studies in the literature. The latest developments in palm oil milling operations and information on greenhouse gas emissions are presented. Current initiatives in reducing carbon footprint of palm oil mills are discussed along with an assessment of the technologies employed. These include the conventional method of capturing biogas from palm oil mill effluent and emerging approaches such as converting palm sludge oil into biodiesel, deploying enzyme-assisted oil extraction, and converting biomass into fuel for energy generation as an alternative to coal and other fossil fuels. The importance of self-sufficiency is deliberated because a self-sufficient palm oil mill is estimated to reduce emissions by 457 kg CO2 eq/t crude palm oil compared to a mill that requires an external power supply. Methods with the greatest positive effect on the carbon footprint are identified for further investigation.