ABSTRACT
The United Nations' Sustainable Development Goals (SDGs) were agreed in 2015. There is, according to The Economist, something there for everyone. This is because the UN involved not just countries and UN agencies in the goal development process, but a huge range of non-governmental organisations (NGOs) as well. This is something that the Copenhagen Consensus, an international think tank, has been looking at. The Consensus says that establishing priorities for action is crucial if increases in global welfare, as embodied in the goals and targets, are to be achieved. Understanding that resources are scarce, the Copenhagen Consensus uses the theory of welfare economics and cost–benefit analysis to focus on what can be achieved most effectively. The Copenhagen Consensus methodology is to ask experts to come up with possible solutions to problems. These are then evaluated and ranked by a panel of economists using cost–benefit analysis to focus on maximising the benefits that might be obtained.
