The positive role of entrepreneurship and micro and small enterprises in providing job opportunities necessitated a further investigation into the critical individual factors motivating individuals and potential entrepreneurs (students) to develop their entrepreneurial intentions and act green. Accordingly, we aimed to examine the effects of crucial factors—environmental self-identity (ESI) and green mindfulness (GM)—on students’ (potential entrepreneurs’) development of green self-efficacy (GSE) and to examine the influence of GSE on their green entrepreneurial intentions (GEIs). The study sample of 202 potential entrepreneurs was drawn from two Applied and Business Administration Colleges at King Faisal University. The collected data were analysed and interpreted using partial least squares structural equation modelling (PLS-SEM). The research produced exciting results showing that ESI and GM positively influenced GSE and that GSE positively affected GEI. The results also revealed GSE’s capability to mediate the connection between GM, ESI, and GEI. This paper concludes by providing several suggestions for decision-makers in the study context.