The study presents a framework for the sustainable carbon-based nanomaterials, focusing on Carbon Nano Tubes (CNTs). The framework integrates performance, hazard, and economic considerations toward the development of CNT-enabled products. Through Life Cycle Analysis (LCA) and environmental degradation studies, the research highlights the energy-intensive nature of CNT production, the persistence of CNTs in the environment, and the associated ecotoxicity risks. Functionalization of CNTs is emphasized as a crucial strategy to enhance biodegradability and reduce toxicity. The study also addresses the economic trade-offs, noting that while CNTs offer superior functional performance, their high production costs and energy demands must be carefully managed. The proposed framework aims to ensure that CNTs maximize their benefits while minimizing their environmental and health impacts, thereby supporting the sustainable advancement of carbon nanomaterials in various applications. The study found that CNT production is highly energy-intensive, but scaling up can improve efficiency. CNTs persist in the environment, with partial degradation, indicating potential long-term ecological risks. Functionalization enhances biodegradability and reduces toxicity, helping to balance performance with sustainability.