Sadly, this is yet another German Third Reich period MISTAKE. There was no Austrian device for any award on this generic "war awards" ribbon that used a GREEN wreath.
It undoubtedly is SUPPOSED to represent the GOLD wreath on a Military Merit Cross 3rd Class with War Decoration-- the most common Hapsburg award to German officers. Military effects makers were apparently confused by GERMAN awards which used a green enamel wreath to indicate a class given to officers (Baden's Military Karl Friedrich Merit Order, W?rttemberg's Military Merit Order, etc).
Things got so out of regulation, German-made Austro-Hungarian Military Merit CRossees can even be found with green enamel rather than gold wreaths-- on thye full-sized crosses!
Germany's allies awards always seemed to have confused their recipients!