Given that we've been in a cold period for the past 10 million years, and that glaciation is rare on earth I'm guessing that's not a huge issue.

Warmer temperatures can be survived. It's the rate of change that's going to be the killer. Living things can adapt to change but not suddenly.

EDIT: Source for the downvoters: https://en.wikipedia.org/wiki/File:All_palaeotemps.png

And discussion from a world-class geologist: https://www.forbes.com/sites/jamesconca/2013/07/28/who-cares...

That doesn't mean it's running out of oxygen.