Since Greek antiquity, humans have been practicing asceticism to overcome adversities and to change their lives for the better. Asceticism can be defined as the practice of self-discipline or self-restraint in order to achieve a particular goal. Asceticism not only enabled monks to live a life that prepared them for eternal salvation, but it also helped to generate groundbreaking technical and cultural innovations as well as societal transformation. Paradoxically, as Max Weber has shown, asceticism in form of Protestantism also fostered the emergence of capitalism. Nowadays, the term has developed multiple meanings. We identify and critically examine five modern variants of asceticism which can be found in social movements such as Voluntary Simplicity (VC) and in the work of philosophers such as Wilhelm Schmid, Peter Sloterdijk, Quentin Maillasoux and the sociologist Ulrich Beck. Drawing on recent developments in the climate ethics and social movement literature, we explore and critically examine whether and how these modern variants of asceticism can develop a similar transformative power by creating a broad social movement that triggers collective action and political activism and help us to cope with climate change. Preparing for these effects now might further help us when problems caused by the climate change become even more difficult to cope with.