This article explores the role that green gentrification plays in exacerbating racial tensions within historically marginalized urban communities benefiting from new environmental amenities such as parks, gardens, waterfront restoration and greenways. Building on extensive qualitative data from three cities in Europe (Amsterdam, Vienna, Lyon) and four cities in the United States (Washington, Austin, Atlanta, Cleveland), we use thematic analysis and grounded theory to examine the complex relationship between historical environmental and racial injustices and current racial green inequities produced by the green city agenda. Our analysis also offers insights into the main differences in how community members articulate concerns and demands over racial issues related to green gentrification in Europe versus North America. Results show that urban greening—and green gentrification specifically—can create ‘compounded environmental racisms’ by worsening racial environmental injustices and further perpetrating green racialized displacement, re‐segregation and exclusion. The latter is produced by the racial inequities embedded in green infrastructure projects and the related unequal access to environmental benefits, affordable housing, political rights and place‐making. Moreover, we find that settler colonial practices combined with persisting exposure to toxins and re‐segregation in the United States together with neocolonial spatial and social practices in Europe shape how racialized community members perceive and interact with new green amenities.