The Blues trailed by 17 points midway through the third quarter, but three quick goals in succession to Eddie Betts helped them to a one-point lead at the final change.
As expected, the Swans charged hard in the last quarter, but the Blues, thanks to a dominant performance from captain Chris Judd, who had 33 disposals, held off the home team.
Brett Ratten's side kicked four goals to the Swans' two in the last term, winning 12.15 (87) to 10.11 (71).
Despite the inclement conditions, the sides kicked eight goals between them in the first quarter, with the Swans leading by 13 points at quarter time.
Even early in the game, Betts looked ready to put his poor early-season form behind him, kicking the Blues' first goal and having a hand in their next two, but the Swans were just as classy.
They used space in attack to kick the ball long and let it slide into open ground, with Kieren Jack's soccer goal from almost 35m the highlight of several skilful finishes.
It wasn't to be a forerunner for things to come, however, with the second term as closely fought as the first was high-scoring.
John Longmire's side kicked six behinds for the term - many of which were kickable opportunities - but also held the Blues goalless, taking a 15-point buffer into the main break.
With co-captain Adam Goodes becoming more involved up forward after a quiet first term, and Kennedy hard to stop at the clearances, the Swans were on top, and a couple of goals might have put Carlton out of the game, but the Blues held on.
The Swans managed to jump out to a 17-point margin in the third term, but three goals to Betts, clearly Carlton's most dangerous forward, gave the Blues the narrowest of leads.
A crucial free kick and 50m penalty awarded for a controversial interchange infringement led to Setanta O'hAilpin kicking Carlton's fourth consecutive goal, and all the momentum was with the visitors.
However, a mark and goal from Swans ruckman Shane Mumford reduced the margin to one point at the last change.
The runaway win in the last term ended Carlton's shocking record at the SCG and will go down as one of Ratten's finest wins in charge of the club.
Sydney Swans 5.2 5.8 8.8 10.11 (71)
Carlton 3.1 5.6 8.9 12.15 (87)
GOALS
Sydney Swans: McGlynn 4, McVeigh 2, Mumford 2, Moore, Jack
Carlton: Betts 4, Garlett 2, Walker 2, Waite, White, O'hAilpin, Joseph
BEST
Sydney Swans: McVeigh, McGlynn, Kennedy, Hannebery, Mumford, Bolton
Carlton: Judd, Betts, Jamison, Scotland, Ellard, Gibbs
INJURIES
Sydney Swans: Heath Grundy replaced in selected side by Mike Pyke
Carlton: Chris Yarran (hamstring) replaced in selected side by Dennis Armfield, Shaun Hampson replaced in selected side by Setanta O'hAilpin
SUBSTITUTIONS
Sydney Swans: Jesse White replaced by Andrejs Everitt in third quarter
Carlton: Aaron Joseph replaced in Dennis Armfield in third quarter
Reports: Nil
Umpires: Stevic, Chamberlin, Jeffery
Official crowd: 28,081 at SCG
The views in this article are those of the author and not necessarily those of the AFL or its clubs
