Cosmic reconciliation

Our interpretation of this difficult verse is guided by the broader Colossian context and the immediate cosmic context of Paul's praise to Christ.

We know that the reconciliation of all things cannot mean universal redemption, so what does it mean?

The action that Paul describes is the subduing of all things created to the glory of God, what we might call a universal pacification, including but not limited to the salvation of God's elect.

The action is carried out by God the Father through the Son, and it is carried out through the sacrificial death of the incarnate Word, 'the judgement of the world,' when he redeemed his people, defeated his and their enemies, and secured all things for the glory of God, in accordance with his Father's good pleasure.