On the basis of experimental and theoretical studies, this paper proposes a new mechanism that contributes to nocturnal 4.3 µm CO2 emissions. It suggests that collisions of ground state O atoms with highly vibrationally excited OH(v), produced by the reaction of H with O3, remove a substantial fraction of the OH(v) vibrational energy by a fast, spin‐allowed, multiquantum vibration‐to‐electronic energy transfer (ET) process that generates O(1D): OH(v ≥ 5) + O(3P) → OH(0 ≤ v′ ≤ v − 5) + O(1D). The electronically excited O(1D) atom is subsequently deactivated by collisions with N2 in a fast spin‐forbidden ET process that leaves the N2 molecule with an average of 2.2 vibrational quanta. Finally, the vibrational excitation of N2 is transferred by a fast, near‐resonant vibration‐to‐vibration ET process to the asymmetric stretch (v3) mode of CO2, which promptly radiates near 4.3 µm.