diff --git a/cosmos/converter.py b/cosmos/converter.py
index f9511ab82..423461fd2 100644
--- a/cosmos/converter.py
+++ b/cosmos/converter.py
@@ -9,6 +9,7 @@
 from warnings import warn
 
 from airflow.models.dag import DAG
+from airflow.utils.dag_parsing_context import get_parsing_context
 from airflow.utils.task_group import TaskGroup
 
 from cosmos.airflow.graph import build_airflow_graph
@@ -191,6 +192,8 @@ class DbtToAirflowConverter:
         or DockerOperator parameters
     :param on_warning_callback: A callback function called on warnings with additional Context variables "test_names"
         and "test_results" of type `List`. Each index in "test_names" corresponds to the same index in "test_results".
+    :param parse_all_dags: When False, only the DAG that matches the provided dag_id will be parsed. When True, all DAGs
+        will be parsed. Default is False.
     """
 
     def __init__(
@@ -203,9 +206,25 @@ def __init__(
         task_group: TaskGroup | None = None,
         operator_args: dict[str, Any] | None = None,
         on_warning_callback: Callable[..., Any] | None = None,
+        parse_all_dags: bool = False,
         *args: Any,
         **kwargs: Any,
     ) -> None:
+        if not dag and task_group:
+            dag = task_group.dag
+
+        if not dag:
+            raise CosmosValueError("Either a dag or task_group must be provided.")
+
+        if not parse_all_dags:
+            current_dag_id = get_parsing_context().dag_id
+
+            if dag.dag_id != current_dag_id and current_dag_id is not None:
+                return
+
+        # if the dag is not what we're trying to parse, we can skip for performance reasons
+        # https://airflow.apache.org/docs/apache-airflow/stable/howto/dynamic-dag-generation.html#optimizing-dag-parsing-delays-during-execution
+
         project_config.validate_project()
 
         execution_config = execution_config or ExecutionConfig()