Not necessarily. We are very accustomed to “green” being synonymous with everything environmentally friendly. In jewelry terminology however, “green gold” often refers to the color of gold alloy, not the way the gold was sourced.
When other metals mixed into the gold alloy contain higher percentage of silver, it results in a color that is on a “greener” side. Compare these two rings. The one on the left is green gold, the one on the right is yellow. See the difference?
However, “green gold” and “ethically/responsibly sourced gold” terms are often used interchangeably, which creates some confusion. Sometimes people think they are buying responsibly sourced or recycled gold ring, when in reality they are buying the ring made with the green gold alloy. And sometimes jewelers indeed refer to their recycled gold alloy as “green”. So, if you are unsure – ask.
Since I only use responsibly sourced metals in my jewelry, when you see the term “green gold” on this site, it is referring to the gold color.