Beyond the issue of can we terraform Mars there is the quite different question of should we terraform Mars. If we are to be the caretakers of our Solar System, what responsibilities do we have to it? There are several approaches to this issue.
Leave no trace..
Nature has decided Mars' fate. Any human tampering would be
unconscionable and should be absolutely avoided. Note that its too
late for such a stand, since we've already trashed the surface
with landers and fallen orbiter debris. Moreover, we might have
quite possibly infected the surface already.
Wise Stewardship
Nature is indeed here to offer us something of value, which
we should use, provided it is not squandered and we do not
adversely effect natures gifts to us. This is a typical view
of Earth naturalists.
Intrinsic Worth
Non-human aspects of nature have intrinsic value and worth,
whether they are of value to humans. These aspects should be
respected and preserved.
Does Mars have Intrinsic Value?
If Mars turns out to be entirely void of present life, is its value
less than that of a planet with life? Historically, we have always
exploited what natural resources the Earth could give us, without
plans of replenishing those reserves or with little concern of
the condition we leave the Earth.
Will this be our policy with Mars?