- Haemoglobin is an iron-containing protein responsible for transporting oxygen from the lungs to the body's tissues and carbon dioxide from the tissues back to the lungs. - When haemoglobin binds with oxygen (oxyhaemoglobin), it appears bright red, giving arterial blood its characteristic colour. - Deoxygenated haemoglobin is darker red, giving venous blood its bluish-red appearance (often perceived as blue through skin).