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This lecture covers the physics of climate change, emphasizing the risks, effects, and costs associated with it. Starting with the importance of climate change, the instructor discusses global climate strikes, top global risks, the science of climate change, evidence of CO2 concentration and temperature correlation, historical temperature records, and the impact of climate change on different regions. The lecture also delves into the determinants of climate risk, actual impacts of climate change, reasons for concern in IPCC reports, and the global aggregate impacts. Furthermore, it explores the vulnerability of countries to climate change, the determinants of climate risk, and the economic losses associated with different temperature increases.