The Sea - José Poças Esteves

On November 16, we celebrate National Sea Day, marking the date when the United Nations Convention on the Law of the Sea (1994) came into force. Portugal ratified it in 1997, and the National Sea Day was established by a Resolution of the Council of Ministers one year later.

Crowe Portugal wants to join this celebration and highlight the strategic importance of the Sea—not only for Portugal but for all Humanity.

It is a fact that the Sea is fundamental to the basic elements of Life:

• It covers 71% of the planet’s surface, holds 97% of all water, and is home to about 80% of all life forms;
• It provides about half of the oxygen we breathe and absorbs most of the carbon dioxide;
• It is a source of food and protein for nearly half of humanity.

From an economic and development perspective, the Sea:

• Is the main factor of connectivity between peoples (for example, it accounts for more than 90% of all goods transportation);
• Holds critical resources that ensure human health needs and the industries of the future, driving economic development through a New Economy that must be sustainable.

Historically, the Sea has always been a source of power and conquest (for trade and resources). Those who controlled the Sea dominated the world. The Portuguese know this well—the first great globalization was Portuguese.

At Crowe, we want the Sea to assume the importance it deserves. Let November 16 be a day of broad reflection on the Sea and its ever-renewed and decisive role in shaping our shared future.

For us, Portuguese, the Sea is objectively the great strategic resource and the fundamental factor that can change the paradigm of our Economy, our Politics, and our Society. We must fully embrace the reality of being a country with 4 million km² of maritime territory (with the approval of the extension of our Continental Shelf), the 3rd largest EEZ in the EU, and the 3rd largest EU country (land and sea), with a strategic position in the crucial North Atlantic.

In short, the Sea was our great past and can be our great future—for all of us, Portuguese—and for the sustainability of Humanity’s future.