Carbon dioxide transport and hemoglobin buffering
1. CO2 passes into red blood cells, combines with H2O to form H2CO3
2. H2CO3 dissociates into HCO3- and H+
3. H+ ions bind to hemoglobin
4. HCO3- passes back into plasma in exchange for Cl-
5. In lungs, process reverses and H+ recombines with HCO3- to form CO2 which is exhaled