Rice provides ~20% of human dietary energy and, for many people, a similar share of their protein. Rice cultivation, however, produces significant greenhouse gas (GHG) emissions, comparable to those from the aviation sector. The main GHG from rice production is methane, mostly a result of conventional rice cultivation (CRC) keeping rice fields continuously flooded during the crop cycle. There is extensive evidence that alternate wetting and drying (AWD) of rice fields substantially reduces methane emissions. AWD is one component of the System of Rice Intensification (SRI), an agroecological approach to the management of plants, water, soil and nutrients practiced by millions of farmers in both lowland irrigated rice and upland rainfed cultivation. Thirteen countries have included SRI in their Nationally Determined Contributions to GHG reduction or climate change mitigation. This article reviews 16 field studies of the net reduction in GHG emissions from the adoption of AWD, eight from the adoption of SRI, and two that compared SRI and AWD. Where available, the review includes data on yield and therefore on carbon dioxide-equivalent GHG emissions per kilogram of rice produced. The evidence indicates that AWD and SRI offer a similar and substantial reduction (~35–41%) in GHG emissions per hectare compared with conventional rice cultivation. However, SRI offers ~66% greater yield than CRC, and therefore greater reduction in emissions per kilogram of rice, ~54% more than AWD. The limited data directly comparing SRI and AWD support this finding. SRI also appears to have greater potential to sequester carbon in the soil. SRI lowers rice farmers’ costs of production, adds to their income and can make climate-friendly methods more attractive. Both AWD and SRI are greatly preferable to current conventional practices, but SRI offers opportunities to contribute to food security while directly addressing the drivers of climate change.