Improving projections of future economic risk and damages facilitates the development of tools that can be used for economic analysis of climate policies . Monetised estimates of the damages from climate change have been developed and refined since AR5, motivated in part by efforts to estimate the Social Cost of Carbon  . Support for these efforts and the use of SCC in regulatory analysis of mitigation and adaptation efforts have been pledged across the national and subnational governments of Canada, the USA and Mexico. Harmonising SCC and consistent use can further enhance coordination of mitigation and adaptation decision making . Using these damages estimates can also inform other policy and tools that improve the consideration of climate impacts in markets and decision making .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report