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Sorting is not built into any version of Pages — unless it is a table column. You could get the free WordService from the Mac App Store. It will install as part of the Download, and has as service that can sort ascending, or descending when you have a column of non-table text in the Pages document.

You will have to visit System Preferences : Keyboard panel : Shortcuts : Services, and find the WordService: Sort Lines Ascending (or Descending) entries and check them. Notice that they already have keyboard shortcuts assigned to them too.

Select the text to sort, and then from the Pages menu : Services : WordService: Sort Lines Ascending, or the keyboard shortcut to instantly sort your list of words.