The United Nations’ Sustainable Development Goals (UN SDGs) aspire to be integrated and indivisible, balance the three dimensions of sustainable development and transform our world by going beyond previously agreed language. Focusing on decoloniality and equity, we explore whether these aspirations are met in analysing five goals, their targets and indicators interlinking especially the economy–ecology spheres: SDGs 8 (economic growth), 9 (industry and innovation), 12 (sustainable production and consumption), 13 (climate action) and 15 (life on land). We examine two interconnected foci. Having mapped the connections which exist, according to official UN data, between these goals’ indicators, we examine definitions and delineations in SDGs 8, 9, 12, 13 and 15 through a decolonial lens, focusing on universality, absences and modernity–coloniality. A second step investigates the equity implications of these framings, using indicator data to illustrate abiding injustices. Our original contribution is thus retracing these connections and contradictions, their intellectual heritage and their equity implications in the detail of these five SDGs, their targets and indicators, combining the sustainable development and decolonial literatures in novel ways. We find that trade-offs, absences and justice shortcomings call into question the attainment of the SDGs’ objectives of leaving no one behind while safeguarding advances for people, planet, prosperity, peace and prosperity. We recognize the SDGs’ opportunity to rethink how we want to co-exist in this world. However, we argue that recognizing absences, trade-offs and equity shortcomings are key prerequisites to attain genuine transformations for justice and sustainability through the SDGs.