I didn't quite understand what a N2 generator of CO2 is.
If you are asking what happens when caustic soda is exposed to CO2, well you would need water as well. Slowly, CO2 binds with H20 to make the acid H2CO3 which reacts with NaOH to make Na2CO3(in solution) and water.
Adding an acid like H2SO4, you get Na2SO4 (in solution) and H2CO3 which decomposes to H20 and CO2.