This empirical study intends to identify the relationships between three green supply chain management practices (GSCMPs) [green purchase (GP1), green production (GP2) and employee green orientation (EGO)]; and perceived environmental performance (PEP) based on stakeholder theory. The study also included one mediator, perceived social responsibility (PSR) to test its mediating effects in three direct relationships and one moderator, perceived regulatory pressure (PRP), to test the moderation in the relationship between PSR and PEP. The study used a deductive methodology based on a cross‐sectional survey design. IBM SPSS 29 was used for descriptive analysis and a variance‐based partial least square structural equation modelling (PLS‐SEM) (through PLS 4.0) was used for testing the hypothesised relationships. The study found that, first of all, all the three independent constructs have significant positive relationships with the dependent variable, PEP. Second, GP2 and EGO have significant positive relationships with the mediator, PSR while GP1 has an insignificant relationship with PSR. Third, the mediator (PSR) is positively related to PEP. Fourth, regarding the mediating effects, the study identified that PSR partially mediates the relationships between GP2 and PEP as well as between EGO and PEP while PSR does not mediate the relationship between GP1 and PEP. Finally, the study identified that PRP strengthens the positive relationship between PSR and PEP. It is strongly anticipated that this empirical study will spark further theoretical research and empirical experiments on GSCMP‐oriented environmental performance. The study incorporated two unique variables as mediator and moderator that can open a new avenue for the upcoming research initiatives. Furthermore, the study's findings can serve as a foundation for the policymakers and/or managers working on the formulation and implementation of green supply chain management‐related policies and strategies.