RESUMEN
In the Third and Fourth Assessment Reports (TAR and AR4, respectively) by the Intergovernmental Panel on Climate Change (IPCC), vulnerability is conceived as a function of exposure, sensitivity, and adaptive capacity. However, in its Special Report on Managing the Risks of Extreme Events and Disasters to Advance Climate Change Adaptation (SREX) and Fifth Assessment Report (AR5), the IPCC redefined and separated exposure, and it reconceptualized vulnerability to be a function of sensitivity and capacity to cope and adapt. In this review, we found that the IPCC's revised vulnerability concept has not been well adopted and that researchers' preference, possible misinterpretation, possible confusion, and possible unawareness are among the possible technical and practical reasons. Among the issues that need further clarification from the IPCC is whether or not such a reconceptualization of vulnerability in the SREX/AR5 necessarily implies nullification of the TAR/AR4 vulnerability concept as far as the IPCC is concerned.