Haemoglobin supplies the oxygen to tissues and the blood plasma itself removes most of the waste products from the cells.
The blood is a connective tissue that connects each and every part of body by means of circulation. This tissue is derived from the mesoderm and is composed of 45% blood corpuscles and 55% plasma. The red blood corpuscles contain the haemoglobin which is known to supply oxygen to the tissues from the lungs. It also transfers about 7% of the carbon dioxide back to lungs as carbamino haemoglobin.
Blood plasma also washes the cells of the excretory products like ammonia, carbon dioxide etc. These products are transferred to liver or lungs and are metabolized to lesser toxic products and are then filtered off by kidneys to remove through urine.