Achieving deep cuts in the carbon footprints of everyday consumption is an indispensable component of climate actions globally, not least in the wealthier nations. Can sustainable consumption—and especially reduced consumption—enhance human well-being as stipulated by theories of the “well-being dividend” as well as contribute to environmental improvements? This article presents an empirical study of the well-being dividend among communities of “zero waste” in Chinese cities. Using 45 in-depth interviews and virtual ethnography of zero-waste practitioners, I explore how sustainable consumption could satisfy multiple human needs and enhance individual and collective well-being. This research highlights the significance of lifestyle communities in processes of needs fulfillment and points to how contemporary societies could enable sustainable needs fulfillment by giving special protections to synergic need satisfiers—starting by allowing green communities to flourish and thrive. Further, through the concept of “teleoaffective regimes,” this article brings to light how concerns over well-being give rise to shared ends, goals, and emotions within communities, hinting at the importance of engaging with people’s core pursuit of well-being in sustainability transformations. Finally, the vast majority of studies on sustainable well-being have focused on Western countries. By contrast, this work provides insights into this topic from China and raises critical questions about the dynamics between growth, consumption, and well-being in developing nations. It also calls for further exploration of more sustainable models of “development” that center on delivering well-being to all within planetary boundaries.