In a changing climate, drought risk and vulnerability assessments are becoming increasingly important. Following the global call for proactive drought risk management, drought vulnerability assessments are progressively taking their stage in the drought research community. As the manifestation of drought vulnerability is dependent on the social, ecological, and hydroclimatic context in which it occurs, identifying vulnerability factors relevant for specific climatological and ecological regions may improve the quality of vulnerability assessments. Meanwhile, a holistic overview of factors affecting vulnerability in polar and cold climates is currently lacking. These regions are home to large socio-hydrological systems including urban areas, energy systems, agricultural practices, and the boreal forest. By conducting an interdisciplinary systematic literature review, the manifestation and conceptualization of drought vulnerability were identified for forested ecoregions in the KöppenâGeiger D and E climates. Vulnerability factors, as described by several scientific disciplines, were identified and combined into a conceptual framework for drought vulnerability in the study region. The results demonstrate the wide range of conceptualizations that exist for assessing drought vulnerability, and the thematic differences between sectors such as forestry, water supply, and agriculture. The conceptual framework presented herein adopts a novel approach, categorizing vulnerability factors by their location in a socio-hydrological system, and their relation to blue or green water sources. This allowed for identification of systemic vulnerability patterns, providing new insights into regional differences in drought vulnerability and a base for stakeholders performing proactive drought risk assessments in the study region.