yes, the dust reflects the heat back into space but this is only short term because the dust eventually settles. The CO2 released stays in the atmosphere until its absorbed--if it ever is.
The whole argument that humans are creating global warming (or global "climate change" as seems to be the safer theory now because warming stopped 10 years ago) is completely shredded with a single volcanic eruption. More CO2 is spewed out in a single day than in years of human activity.
Its time people like Stern and the UN came clean and admitted that this whole carbon-trading thang is a scam designed to make money and possibly force the world to slow down use of finite fossil fuels (not necessarily a bad thing but dishonest and risky for the cynicism that will flow when the hoax is revealed).