The green stripe is the left stripe of the Mexican flag when the flag is viewed from the front. In modern civic explanations, green is commonly associated with hope. It can suggest confidence in the future of the nation.
Historically, the colors also had meanings tied to the Army of the Three Guarantees during the independence period. In that earlier context, green was associated with independence. Many learners will see both explanations, so it is useful to know the modern common meaning and the historical independence-era meaning.