Colonists, on the other hand, must be efficient if they wish to exist for longer than a few weeks, and they're a small and smart enough of a group that maintaining efficiency isn't an issue. Efficiency is a way of life for them. If anything, extremely low waste yet modern lifestyles will get their start in planetary colonies and make their way back to earth, not vice versa.
Of course, my bet is that we will reach the point where we can sustain a planet before we run out of planets (assuming we colonize a planet).
My actual bet is that it's gg for humanity.
There are certainly massive disadvantages, life support, ect, but there could be things like large amounts of plentiful fuel.
But if you're talking about terraforming, then if we could terraform another planet we could probably re-terraform earth itself.
The issue with climate change is that higher temperature means more energy and thus more extreme climate. Plus there's desertification but that is, to some extent, a different issue.
Space exploration and colonisation is important, but it's not an answer for the Earth's problems. It may lead to new technologies that will help on earth though - not least the requirement for sustainability.