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This research and analysis paper addresses the extension of environmental ethics in the area of planetary engineering, specifically using the following three ethical viewpoints that inevitably shape our perceptions of the terraforming endeavors proposed to build our cosmological future appropriately: [1] environmental ethics analysis, [2] moral theories analysis (including utilitarianism, Respect for Persons ethics or “RP ethics,” and virtue ethics), and [3] risk analysis. The three ethical viewpoints, explained in “Concepts and Cases: Engineering Ethics. 6th Edition,” are used to elaborate justifications for or against terraforming beyond the mere theoretical explanations. To develop the justifications of the “intrinsic value” of terraforming, scientific evaluations, research, and experimentation in planetary engineering mechanisms, relevant issues addressed by proponents and opponents of terraforming, and potential consequences from the inherent risks involved in engineering implementations for space exploration, settlement, and modification are explored through each ethical lens and by using mainly Mars as the example planet of interest.