Sufficiency consists of less materially intensive consumption patterns that focus on wellbeing rather than material wealth. Such consumption patterns are commonly referred to as sufficiency lifestyles and are increasingly seen as a key driver for achieving decarbonisation. However, while research finds that sustainable consumption and environmental behaviour are often associated with high social status, lower carbon footprints and lower consumption more broadly are associated in the literature with poverty and deprivation. This article aims to investigate whether a combination of low carbon footprint and high wellbeing exists, what socio-demographic characteristics are associated with it, and to explore the actual experiences of people engaged in sufficiency lifestyles through initiatives and their characteristics. We use a mixed-methods design with data from demographically representative surveys in Denmark, Germany, Italy and Latvia (N=5,080), and in-depth interviews with participants from sufficiency-oriented intentional communities (N=90). We find that sufficiency lifestyles are linked to a stronger inclination towards sufficiency orientation or a heightened stronger environmental identity, accompanied by a negative correlation with social deprivation aspects. Drawing on the interviews, we find that individuals engaged in sufficiency-oriented practices tend to benefit from economic, social and cultural resources that allow them to overcome energy dependency and constraints, and that their motivations are not limited to pro-environmental behaviour. Based on these empirical findings, we explore potential avenues for the diffusion of sufficiency-oriented lifestyles, including the establishment of binding rules through a democratic process that curb overconsumption while providing attractive low-carbon lifestyles for all.