This article examines the legal foundations of an equitable global fossil fuel phase-out under international law and considers how legal principles could shape the scope of existing obligations and development of a future regime limiting the production of fossil fuels. While fossil fuel production remains largely unregulated in the international climate regime, emerging scientific, political and normative pressures demand clearer legal guidance. The article argues that a principle-based approach, grounded in established norms of international law, can clarify what equity entails in this context, and offer a coherent framework for a managed phase-out. Drawing on principles of permanent sovereignty over natural resources, common but differentiated responsibilities, cooperation, prevention, precaution and non-regression, it is demonstrated that the substantive and procedural obligations needed for an equitable transition away from fossil fuels are already part of existing international law.