Supplier selection is an important decision-making process within supply chain management that involves qualitative and quantitative factors. This process is even more complex if different partners that are already collaborating desire to choose a partner for enhancing the sustainability of their collaborative network. Sustainability literature supports the need to consider three main types of sustainability factors: environmental, social, and economic factors. In addition, the management of collaborative networks is better done using a performance management framework/system that allows managing performance under various performance perspectives or dimensions in a structured manner. This paper proposes a novel approach to select suppliers for sustainable collaborative networks using a performance management framework. With this approach, enterprises that are collaborating (or desire to do it) will have a tool to select suppliers aligned with their strategy and the sustainability of their collaborative network, and therefore, improving the supplier selection process and their competitiveness.