Global warming is causing the Earth's temperature to rise, mainly due to human activities releasing greenhouse gases. This will lead to higher sea levels, more extreme weather, and other harmful effects. If we don't take action, it could severely damage the global economy. However, addressing global warming now would only cost a small percentage of the world's GDP. Failure to act could slow down economic development, increase poverty, and make it harder to achieve global development goals. The impacts will be felt in sectors like insurance, infrastructure, and investments. It's crucial to act now to mitigate the economic consequences of global warming.