Dr. Larry Smarr's keynote speech discusses how global greenhouse gas emissions are drastically impacting Earth's climate and highlights the urgency of reducing these emissions. He emphasizes the pivotal role of Pacific Rim applications and grid middleware (pragma) in promoting green technology and achieving a low carbon economy. The speech outlines various opportunities for utilizing information and communication technologies (ICT) to significantly mitigate greenhouse gas emissions through innovative solutions like smart grids, buildings, and transportation systems.