Projections of market and non-market economic damages demonstrate the substantial economic risks of climate impacts associated with high-temperature pathways  . Since AR5, a wide range of estimates of the costs of climate change have been developed for the USA , with ongoing processes to update national estimates for Canada and Mexico . While the magnitudes of the estimates depend on approach and assumptions in the methods and expectations of future socioeconomic conditions, these studies show substantial projected economic damages across North America by the end of the century, especially for warming greater than 4℃ . Whether these damages translate into GDP effects is not clear for Canada. Some modelling approaches show modest GDP increases in 2050 and 2100, while others suggest modest decreases although it is anticipated that the economic effects for Canada will be large and negative . Large costs and risks, such as those associated with extreme events such as wildfires  and the increased need for infrastructure replacement , will have compounding effects in the markets by disrupting economic activities .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report