The aim of this study was to explore the factors affecting the intention to purchase PCTG plastic water bottles. It further elaborates on the relationships among perceived value, perceived risk, trust in the quality of the product, and purchase with the concern of protecting the environment. Another focus of this research was to measure the mediating effect of trust on the relation between perceived value and purchase intention and to test whether perceived risk has any moderating effect on the relation between perceived value and purchase intention. Three hundred valid responses from Hong Kong consumers were used to test the mediation-moderation model. The research findings indicated that trust partially mediates the significant relationship of perceived value with purchase intention. The moderating role of perceived risk was also found to have significant effect on the direct effect between perceived value and purchase intentions, indicating that the relationship between the perceived value and purchase intention is stronger under high perceived risk rather than under low perceived risk. Managerial implications and limitations are also discussed.