This　research　explores　the　effects　of　income　inequality　and　country　risk　on　CO2　emissions　and　examines　whether　the　effects　change　across　countries　with　different　development　stages　or　income　levels.　A　new　panel　quantile　regression　approach　is　used　to　conduct　a　comprehensive　analysis　of　the　impacts　of　affecting　factors　on　CO2　emissions　at　various　quantiles,　while　addressing　econometric　challenges　such　as　endogeneity　and　heterogeneity.　From　a　global　perspective,　we　can　conclude　that　the　marginal　impact　of　inequality　on　emissions　drops　constantly　with　decreasing　country　risk　at　10th　to　50th　quantiles,　which　even　performs　negative,　whereas　at　the　other　quantiles,　the　marginal　impact　of　inequality　always　remains　negative.　When　we　focus　on　the　different　income　groups,　the　nexus　of　inequality　emissions　is　negative　first　and　then　positive　with　decrease　of　country　risk　in　low-income　countries　but　shows　no　significant　in　low-middle-　and　upper-middle-income　countries.　Additionally,　we　validate　the　detrimental　impact　of　income　inequality　in　upper-income　countries.　Besides,　country　risk　adversely　moderates　the　nexus　of　inequality　and　emissions　in　low-　and　upper-income　countries.　Empirical　results　confirm　that　the　nexus　of　inequality　emissions　lies　in　country　risk,　income　level,　and　existing　emission　degree.　These　findings　provide　some　important　recommendations　for　policy-makers.　©　2020,　Springer-Verlag　GmbH　Germany,　part　of　Springer　Nature.