Scientists have already indicated this particular sheet of ice was on its way to breaking off and may not be related to climate change, and it was already in the ocean so it won't displace much water. But it does place us in a more vulnerable position in the future as climate change melts ice because now land-bound ice in the Arctic has a path to melt into the ocean, which will significantly displace water. Moreover, some methane trapped under ice, a much more potent greenhouse gas than CO2, will be released into the atmosphere, contributing to a positive feedback cycle with respect to warming.