The Sustainable Development Goals (SDGs) are an opportunity to address major social and environmental challenges. As a widely agreed framework they offer a potential way to mobilise stakeholders on a global scale. The manner in which the goals, with time-based targets and specific metrics, are set out within a voluntary reporting process adopted by both governments and business, provides a fascinating and important case for organisational studies. It is both about advancing performance measurement and evidence-based policy-making for sustainable development, and also participation and consultation at a wider, more global scale, than has ever been possible before. This paper contributes to the notion of SDGs as a wicked problem, answering calls for deeper theorisation, via synthesis with core ideas in the management field of decision theory. A case study on the wicked problem of deforestation and its links to supply chains, multi-stakeholder initiatives and SDG reporting, provides an illustration of the relevance of the application of decision theory to wicked problems, presented using a novel conceptual framework. This helps to illustrate new avenues for research and practical application regarding the balance of technocratic and participative approaches for sustainable development.