This document discusses conceptual frameworks for understanding vulnerability and risk from climate change impacts. It describes the evolution of the definition of vulnerability from the IPCC's 4th Assessment Report to present. Examples are provided of vulnerable communities in Africa that experienced extreme impacts from non-extreme weather events due to underlying vulnerabilities and exposures. The importance of context in determining effective adaptation is highlighted. Risk is described as the interaction of hazards, exposure, and vulnerability. Finally, shared socioeconomic pathways are introduced as a new approach used in the IPCC's 5th Assessment Report to develop standardized vulnerability scenarios.