There are enormous quantities of naturally occurring greenhouse gasses trapped in ice-like structures in the cold northern muds and at the bottom of the seas. These ices, called clathrates, contain 3,000 times as much methane as is in the atmosphere. Methane is more than 20 times as strong a greenhouse gas as carbon dioxide.
Now here's the scary part. A temperature increase of merely a few degrees would cause these gases to volatilize and "burp" into the atmosphere, which would further raise temperatures, which would release yet more methane, heating the Earth and seas further, and so on. There's 400 gigatons of methane locked in the frozen arctic tundra - enough to start this chain reaction - and the kind of warming the Arctic Council predicts is sufficient to melt the clathrates and release these greenhouse gases into the atmosphere.
Once triggered, this cycle could result in runaway global warming the likes of which even the most pessimistic doomsayers aren't talking about.