<p>At present, in order to cope with the fierce market competition, the coexistence of close cooperation among supply chain members is in the ascendant, and at the same time, in order to fully leverage the welfare role of corporate social responsibility (CSR). By comparing three scenarios of cooperation between green manufacturer and conventional manufacturer (<i>EC</i> model), cooperation between green manufacturer and retailer (<i>ER</i> model), and cooperation between conventional manufacturer and retailer (<i>CR</i> model), the paper aims to identify which cooperation model can create more value from the perspective of overall supply chain welfare, and reveal the optimal strategic choices of enterprises in different cooperation models. The results indicate that: (1) When conventional manufacturer adopts cooperation model, the retail price of conventional products is independent of the competition intensity. (2) The overall utility of supply chain is maximized in <i>ER</i> model. (3) The greenness and order quantity of green product is minimum in <i>EC</i> model. (4) The higher the retailer’s CSR level, the greater the demand of green products. The recommendations show that: Conventional manufacturer can transfer green resources from green manufacturer through cooperation. Retailer fulfilling CSR can enhance consumer trust in green products.</p>