Well, consequence may be possible. If GM can be such that, it can eliminate certain pest or insects, and if we say that chemical chemical use to eliminate these same pest can be detrimental to health and environment, so can GM. Now environmentally, we can see the impact of GM such as the silence spring and destruction or breakages of the food chain of certain beneficial insects which is affecting other crops to which these insects are important.
Well consequences can be enormous than benefits which is short term