It's more than just the concentration that matters, it's the energy states of the molecules. Glass is transparent - it passes visible radiation. Aluminum is opaque - it absorbs or reflects visible radiation.
CO2 has energy levels that absorb and reflect infrared radiation. Even a small concentration can have a significant effect on heat loss from the Earth.
More here: http://www.wag.calte...chem/infrared.htm
and here: http://www.aip.org/h...y/climate/co2.htm
HTH.
Cheers,
Scott.