There are already known factors that affect mutation and variation of the genetic material in organisms such as radiation and hazardous chemicals. Will CO2 level change directly affect genetic material in organisms as well?
In theory, it is likely that a change in CO2 would have some affect on the genetic material in certain organisms. It is probably something we would not know for certain until it happens naturally in an ecological system. Unicellular organisms would probably see the effects first. For example, single cell algae may alter the way they metabolize energy from sunlight incorporating the change in CO2 levels. It could be tested in the lab. Growing cultures in conditions where CO2 levels could be controlled and then sequencing before and after. As Darwin stated, those cells capable of better metabolism in a changing environment would produce more cells. The genetic makeup of the population would shift in the direction of algae cells capable of reproducing better under changing conditions of CO2 levels. Of course, we cannot rule out the role that mutation or genetic drift could play in also altering genetic makeup.
obviously it will make certain changes due to less availability of O2 in the body resulting in high free radicals. As the normal metabolism have its way to utilize O2 as normal mechanism but when it will change where probability of CO2 more as compared to O2 it will shift its mechanism to suitable one but is valid for prokaryotes not complex organisation.
I don't know it would increase mutation rate. But it will likely impact natural selection via impacts on photosynthesis, thre extent of acclimation on different individual, etc. It might also change artificial selection in plants. Superior genotypes under 400 ppm CO2 might not be superior at 600 ppm. However, having said this, I have tested this hypothesis under controlled conditions with spruce at the seedling stage and have not found a significant G x E. But these were fairly small short-term studies.
At least in those organisms which are directly metabolizing CO2, like many plants. When there is a lack of it selection of those individuals will occur who can deal with it the best. And this may promote certain mutations which might be less probable if CO2 levels would remain on a constant, high level.
If the organism require CO2 in their biological processes then most likely it would cause a genetic variation in the long run as the organisms would be forced to adapt and through natural selection will shift to the more suitable mechanism of survival