consequence vs significance

consequence and significance both are nouns.

Word	Noun	Adjective	Verb	Adverb
consequence	Yes	No	No	No
significance	Yes	No	No	No

As nouns, significance is a hypernym of consequence; that is, significance is a word with a broader meaning than consequence:

consequence (noun)	significance (noun)
having important effects or influence	the quality of being significant
the outcome of an event especially as relative to an individual	a meaning that is not expressly stated but can be inferred
a phenomenon that follows and is caused by some previous phenomenon	the message that is intended or expressed or signified