As the climate change problem worsens, the private sector is increasingly seen as a vital lever for environmental sustainability. In this respect, competition law is often seen as an obstacle to much needed business collaboration. It need not be. At its normative core, considerable overlap already exists between the aims of competition law and environmental sustainability – both seek to increase dynamic efficiencies, and ensure longevity of businesses. Through the exemption to the prohibition under s. 34 of the Competition Act, environmental sustainability can be incorporated into the competition law framework. Such exemption provides, inter alia, that agreements would not be prohibited if they contribute to the promotion of technical or economic progress. In this regard, environmental economics has sufficiently progressed to allow environmental benefits to be translated into the language of economics and competition law. The CCCS is thus encouraged to adopt a more capacious interpretation of “economic progress” to allow the consideration of environmental benefits in its cost-benefit analysis. In setting out a theoretical rubric, the CCCS could act in one of two ways: first, it could act to prevent businesses from agreeing to activities harmful to sustainability. This requires a lighter touch approach. Second, it could take action to support agreements that promote sustainability, which would require a balanced approach. Adopting this framework requires some practical implementation. This includes making climate change a strategic priority and publishing specific guidelines on environmental sustainability agreements. The CCCS could also engage in a dialectic with businesses that could extend to creating a ‘sandbox’ for businesses to experiment with sustainability-linked collaborations. Importantly, it would need to undertake capacity-building in sustainability and environmental economics expertise to credibly account for benefits under its analyses. While challenging, competition law’s role in facilitating desirable business collaboration in environmental sustainability is not only possible but critical.