Before considering the list of virtues, we should appreciate that Peter motivates the pursuit of Christian virtue with an appeal to what God has done, is doing, and will do in the future.
God has given Christian believers throughout the world a faith of equal standing with the apostles (2 Peter 1:1). As a result we can have peace with God, knowing that our sins have been forgiven and we have been made right in his sight.
By the power of the Holy Spirit, God has given us everything we need for life and godliness (2 Peter 1:3). The Spirit is at work in the hearts and minds of believers, reminding us of biblical truth, helping us to put our trust in Christ and renewing our desires so that we will seek to honour God.
God has also given us great promises (2 Peter 1:4)—promises of assistance, transformation, and final deliverance from the evil of this world and life with him in glory.
The Christian life begins with grace (2 Peter 1:1–2) and continues in grace (2 Peter 1:3–4). We do not pursue Christian virtue in order to make ourselves right with God. We pursue Christian virtue and do works of obedience in thankful response to what God has done for us. This is the pattern that we find throughout Scripture.1
5 For this very reason, make every effort to supplement your faith with virtue, and virtue with knowledge,