Under the framework of the “double carbon” strategy in China, green finance has emerged as a crucial factor in restructuring the economic landscape. This paper explores the impact of green finance on labor allocation between polluting and green industries and reveals that enterprises for which green credit is available tend to employ a greater number of workers, particularly those with higher skill levels. Mechanism analysis suggests this phenomenon can be attributed to an increase in new capital and capital-skill complementarity. Heterogeneity analysis further demonstrates that green credit plays a more pronounced role in optimizing the composition of skilled personnel in green private enterprises. The findings of this paper shed light on the relationship between capital and labor at the enterprise level and provide a foundation for formulating monetary policies that guide the low-carbon transformation of polluting enterprises, in order to reach the objective of “stabilizing enterprises and ensuring employment”.