The paper is here:
Using an empirical approach that provides a robust lower bound on the persistence of impacts on economic growth, we find that the world economy is committed to an income reduction of 19% within the next 26 years independent of future emission choices (relative to a baseline without climate impacts, likely range of 11–29% accounting for physical climate and empirical uncertainty). These damages already outweigh the mitigation costs required to limit global warming to 2 °C by sixfold over this near-term time frame and thereafter diverge strongly dependent on emission choices.
Oh, and destroy the only planet you’ve ever known or will know.
But, yes, you will also have less purchasing power.
This speaks directly to the “it would cost too much to do anything” people — it’s a lot less costly to phase out fossil fuels than not.
Tell that to literally every corporation.