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Cost (in billions of US$) that destructive climate events (heat waves, floods, frosts, wildfires, etc.) have cost European wine regions in the past 40 years, according to reporting by The Drinks Business. In the past decade alone, the cost of climate chaos has amounted to $148 billion. The European Environmental Agency reports that such losses will continue at a rate of at least 2% or more each year. Since 1980, the three countries that have suffered the greatest climate-related financial losses have been France, Italy and Germany.