The straight facts regarding the role of CO2 in AGW, starting with the "accepted" view. The third answer below is the clearest explanation of CO2's role (or lack of) in global warming done from a purely scientific approach. I looked this up because I always wondered how a trace gas in the atmosphere could cause any significant anything, especially when it is so overshadowed by water vapor and Nitrogen and Oxygen, etc, etc, etc, etc...... The first two answers are the traditional answers which just did not make sense to me.
From: [link retired — wiki.answers.com: “How is Carbon dioxide a greenhouse gas”]
A1:
CO2 is a greenhouse gas because it increases the temperature level of the earth in the same way the heat is generated inside the greenhouse where plants are grown. Greenhouses or glass houses trap the heat within thereby increasing the temperature within the glasshouse. In the same way, CO2 acts like a blanket in the earth atmosphere and prevents the heat from escaping from the earth's surface, leading to a rise in global temperatures.
A2:
Shortwave energy (that emitted by the sun) passes through the atmosphere pretty much unimpeded, ultimately to be intercepted by the ground. The warm ground emits longwave radiation in proportion to the fourth power of its temperature. In a completely dry, CO2-less and ozone-less atmosphere, this upwelling longwave radiation would all be lost to space. Carbon dioxide absorbs upwelling long wave radiation and re-emits it back to the ground, thereby reducing the amount of heat that escapes to space, warming the planet. The warmer planet evaporates more water, and the water vapor absorbs even more longwave radiation than the carbon dioxide, warming the planet even more.
A3:
The two answers above are not quite correct. This is how it works.
Incoming solar radiation is widely distributed across the electromagnetic spectrum. Some wavelengths (mostly visible light) get through the atmosphere to the surface, some don't. Of the radiation that gets through, some is reflected and some is absorbed by the surface of the earth. The reflected radiation is not an issue, because it goes right back into space at the same wavelengths that it came in at, unimpeded, just like on the way in. It is only the absorbed radiation that is a problem. This radiation is later re-emitted, but in the form of Infrared Radiation (IR).
Certain atmospheric gases, known as "greenhouse gases", absorb IR, then re-emit it back into the atmosphere. Some percentage of this re-emitted IR (after a long sequence of re-absorptions and re-emissions by other greenhouse gas molecules) eventually works its way back down to the lower atmosphere and is said to "warm" the surface. This is the "greenhouse effect". The "greenhouse effect", in and of itself, is a completely natural thing, and also a very good thing. Without it, the surface would be far too cold for life as we know it to exist.
At this point, it must be emphasized that carbon dioxide (CO2) is just one of many "greenhouse gases". It is not the most important, nor the most abundant. That distinction belongs to water vapor. Even without carbon dioxide, water vapor alone would cause enough of a greenhouse effect to keep us very near the warm temperatures that we enjoy. Also worth emphasizing is the fact that greenhouse gasses do not "trap" IR. They absorb, then re-emit the IR, in a completely random direction. It could go up, down, sideways, or any direction in between. Re-absorption by other greenhouse gas molecules complicates the path and destination of an individual unit of IR, but what it all boils down to is that something less than half of the IR absorbed by greenhouse gases eventually finds its way back to the surface, with the remainder escaping into space.
Though the greenhouse effect itself is completely natural, and very beneficial, global warming scientists believe that anthropogenic (man-made) emissions of carbon dioxide (mostly from burning fossil fuels) have increased CO2 in the atmosphere to a point where we are now experiencing what could be called an "enhanced greenhouse effect". This artificial enhancement of the greenhouse effect, could cause significant warming of the atmosphere and the surface, over and above what the natural greenhouse effect causes. Though such additional warming will have both positive and negative consequences for human beings and other life on the planet, global warming scientists believe that the negative consequences far outweigh the positive consequences. (However, in reality, they have no scientific basis for that belief - they just believe, just because it's "man-made", just because it's not "natural", that it must be "bad". Even the alarmist IPCC admits that no one can be certain which effects will dominate, but, in true alarmist fashion choose to err on the side of pessimism. But that is a completely different discussion, not appropriate to the question at hand.)
Now, here's an important point that global warming scientists don't mention. Though carbon dioxide definitely absorbs IR, it only absorbs IR in two very narrow ranges of wavelengths, one between 2.5 and 3 microns, and another between 4 and 5 microns. This is a small percentage of the total IR emitted by the surface. I don't know exactly how small (because I can't find any source for the wavelength distribution of IR emitted from the surface), but it's probably less than 10%, and perhaps as low as 4%. And even in those ranges, CO2 has to compete with water vapor, which also absorbs 2.5-3-micron IR. So, even if carbon dioxide in the atmosphere increased a thousand-fold, and even if there was no water vapor, there is a limit to how much IR CO2 can absorb, and that limit is 10% (or less) of all the IR emitted from the surface. And of that 10%, over half of it still ends up escaping into space.
This limit of absorptivity is important because some skeptics argue that, between water vapor and CO2, every available ray of IR within the absorption ranges of CO2 is already being absorbed. Additional molecules of CO2, therefore, will havezero effect on the total absorption of IR. So future warming due to CO2 is simply not possible. The only way CO2 could absorb any more IR than it is already absorbing is if 1) the surface started re-emitting more IR, which could only happen if more sunlight reached the surface, or 2) atmospheric water vapor levels dropped, freeing up more IR to be absorbed by CO2, in which case, warming would not occur, because that radiation was already being absorbed by the water vapor that disappeared. In fact, if the second option occurred, temperatures would in fact drop, because water vapor absorbs IR over a much wider range than CO2, and therefore, CO2 cannot completely offset the loss of IR absorption by water vapor. However, the existence of CO2, replacing the IR absorption of some of the lost water vapor, would mitigate this temperature drop. Therefore, at current levels, CO2 could be said to be somewhat of a stabilizer of the greenhouse effect, taking up part of the slack when water vapor levels drop too low. In this respect, it is good to have an excess of carbon dioxide in the atmosphere.
It is also possible that, even at pre-industrial concentrations of atmospheric CO2, we were already above the "saturation point" of IR absorption by CO2, and therefore, even the warming that has occurred in the last 150 years could not have been caused by carbon dioxide.