This report proposes a framework for equitably phasing out fossil fuel extraction based on five principles:

1. Stop extraction when it violates human rights, 

2. Phase out global extraction at a pace consistent with the 1.5 °C limit, 

3. Enable a just transition for workers and communities, 

4. Reduce extraction fastest in countries least socially dependent on fossil extraction, 

5. Share transition costs fairly, according to capacity to bear those costs.

It specifies phaseout timeframes grounded in shared equity principles and the particular national circumstances of extracting countries, and makes an initial assessment of the nature and scale of the climate finance and international support that can make these timeframes achievable.