In recent decades, firms increasingly engage in green innovation activities to address the bourgeoning environmental crisis. Despite the importance of green innovation in determining firms’ competitive advantages, few studies examine its effect on brand equity. By drawing on green innovation literature and institutional theory, this study examines the effects of green product innovation and green process innovation on brand equity, as well as the moderating role of industrial institutional environments. An empirical test of cross-sectional panel data collected from various archival sources from China confirms the positive impact of green innovation on brand equity and the contingent role of industrial institutions, including regulation intensity, industry innovation speed, and pollution intensity. The study thus provides important theoretical and managerial implications.