We're talking about carbon monoxide (CO) when it comes to meat, not CO2, in most cases.
Here's another article at the NY Times:
Which Cut Is Older? (It's a Trick Question)
Randy Huffman of the American Meat Institute Foundation, an industry group, said, "The primary benefit in providing this product to consumers is the red color they have grown to expect."
And this:
Some food scientists who approve of other forms of modified atmosphere packaging as a way of extending a product's life say this form of it can be unsafe. Michael Doyle, director of the Center for Food Safety at the University of Georgia, says one study found that when meat in modified packages that included carbon monoxide was stored at 10 degrees above the proper temperature, salmonella grew more easily.
And at the washington post:
FDA is Urged to Ban Carbon-Monoxide-Treated MeatThey note that the European Union has banned the use of carbon monoxide as a color stabilizer in meat and fish. A December 2001 report from the European Commission's Scientific Committee on Food concluded that the gas (whose chemical abbreviation is "CO") did not pose a risk as long as food was kept cold enough during storage and transport to prevent microbial growth. But should the meat become inadvertently warmer at some point, it warned, "the presence of CO may mask visual evidence of spoilage."