Introduction: In the current context of the accelerated development of innovation in all fields of activity, combined with ensuring the well-being of citizens, waste generation reduction has become a relevant subject widely debated by diverse strands of thought, but also a controversial topic in the specialists’ approaches. The assumption that a reduced level of generated waste is the result of a better standard of living and a higher degree of innovation is in an ongoing debate. Aim: On this frame of reference, the purpose of this research is to assess the interplay among innovation, well-being, and waste generation degrees at the level of the European Union (EU) Member States (MS) and to propose specific strategies for ensuring sustainable coordinates. Method: Our research methodology is based on top-down processing, from network analysis, performed through Gaussian graphical models, to cluster analysis, processed by the Ward method inset on hierarchical clustering. The data covers variables for the EU-27 MS, for the period 2006-2021, that measure the innovation level (namely, „Global Innovation Index”), the rank of municipal waste generation (measured by „Municipal Waste Generation Index”), and well-being credentials (namely, „Human Development Index”, poverty risk rate, and net earnings). Findings: Our findings reveal significant associations among innovation, municipal waste generation, and the well-being dimensions, overall, but also, there were generated four groups/clusters of the EU MS with similar characteristics as regards our topic, on a particular approach. Originality and value: Based on the results obtained, targeted strategies for each EU group of countries are proposed.