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This lecture explores the impacts of climate change on people, economies, and ecosystems, focusing on the Five Reasons For Concern (RFCs) outlined in the IPCC reports. It discusses the risks associated with different levels of global warming, the vulnerability of various sectors such as tourism and agriculture, and the economic implications of climate change. The presentation also covers the global aggregate impacts, the importance of placing a price on impacts, and lessons learned from the IPCC AR5 report. Additionally, it addresses the vulnerability of different regions to climate change and the economic losses experienced by countries due to climate-related disasters.