Research shows that external factors dominate the key determinants of eco-innovation (EI) adoption in organizations in the agriculture sector. Studies are needed to understand the link between internal organizational capabilities and EI adoption. Given the heterogeneity in the types of agricultural cooperatives based on their origin, this study sought to fill this gap by exploring how opportunity, motivation, and ability affect the adoption of EI by agricultural cooperatives. Using a qualitative methodology, we examined seven farming cooperatives in Vietnam and found three dominant drivers of cooperatives’ formation: market, technology, and authority. Market-driven cooperatives are characterized by the presence of opportunity, motivation, and ability; technology-driven ones by motivation and ability; and authority-driven ones by motivation only. This study contributes to the literature on agricultural cooperatives and EI. It offers recommendations to leaders of cooperatives and policymakers.