Siting a nest box

I have been planning to site a nest box on the east facing gable of my bungalow.  I am concerned as the boiler is in the loft and the flue pipe exits approximately a metre from where I want to site the nest box.

The flue has a grill, so the birds won't be tempted to nest in it, but is there a rusk of the gasses (mainly carbon dioxide and a chance of a small amount of carbon monoxide) harming the birds?