Against the backdrop of economic globalization and increasing environmental issues, sustainable development has become a decisive factor for the long-term survival and prosperity of enterprises. The importance of green human resource management for enterprises is increasingly prominent, and it is a key strategy to promote sustainable development of enterprises. Based on social identity theory, this article constructs a model of green human resource management and corporate sustainable development performance and focuses on the impact of green values in it. Based on the analysis of survey data obtained from 246 questionnaires from Chinese manufacturing industry, we find that green human resource management has a significant positive impact on corporate sustainable development performance. Employee green innovation behavior plays a mediating role between green human resource management and corporate sustainable development performance, while employee green values positively moderate the impact of green human resource management on the corporate sustainable development performance. This study provides theoretical basis and management suggestions for enterprises to implement green human resource management policies, promote employee green innovation behavior, and achieve sustainable development.