Proof. By Axiom (C.1), the left Kan extension of along the Yoneda embedding is a localization ; the right adjoint is a fully faithful functor . Write for the class of morphisms of that are carried to equivalences of by , so that . The class is strongly saturated, and by [28, Proposition 5.5.4.16], it is of small generation.
By Axiom (C.4), the class contains the morphisms of Notation 6.5. We claim further that . To prove this, it suffices to show that is stable under the operation for any .
So let be the subset consisting of those morphisms of such that for any morphism and any morphism of , the pullback also lies in . By the universality of colimits in , it follows that is closed under colimits. From Proposition 8.5 for , , and , we deduce that since satisfies Axiom (C.3), there is a subset that generates under colimits and is stable under the operation for any . Hence , and so .
Since (and thus ), it follows that factors through a left adjoint , which by a small abuse we will also call . Composing this left adjoint with the fully faithful left adjoint , we obtain our desired left adjoint .
To construct the desired natural transformation , compose the counit with to obtain , and then restrict along Yoneda to obtain . By definition, is an equivalence when restricted to , and thus a fortiori when restricted to . ∎