The polar ice caps hold a fair majority of the water on earth. If the temperature continues to rise, the coast could flood through. There would be less land for the population. Fewer places for people to live and people would have to move businesses and homes from the coast. It can affect the economy, population, climate, and the weather. We would experience more over-population, there would be more extinct species, and our own world could look very different.
I hope this helps!
~kaikers