TS.C.10.1 Without limiting warming to 1.5°C global warming level, many key risks are projected to intensify rapidly in almost all regions of the world, causing damage to assets and infrastructure and losses to economic sectors and entailing high recovery and adaptation costs . Severe risks are more likely in developing regions that are already hotter and in regions and communities with a large portion of the workforce employed in highly exposed industries . In addition to market damage and disaster management costs, substantial costs of climate inaction are projected for human health .At higher levels of warming, climate impacts will pose risks to financial and insurance markets, especially if climate risks are incompletely internalised , with adverse implications for the stability of markets . While the overall economic consequences are clearly negative, opportunities may arise for a few economic sectors and regions, such as from longer growing seasons or reduced sea ice, primarily in northern latitudes . 
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report