Generate text that refutes this claim: Failure to reach global accord  The Kyoto Protocol failed to reduce global GHG emissions and in the midst of an economic crisis, world leaders were unable to even agree to a replacement treaty when it expired. There is no meaningful global emissions reduction treaty ready for ratification and no reason to be optimistic that one is forthcoming. The developing world believes it has a legitimate right to expand economically without emissions caps because the rich world is responsible for the vast majority of emissions over the last 200 years and per capita emissions in developing countries are still far lower than in the developed world. As such, developing countries will only agree to a global accord that pays for their emissions reductions/abatement. However, the developed world is unwilling to transfer wealth in exchange for a right to emit, particularly at a time when so many have large budget deficits 1. Given that the growth of annual emissions is being driven by developing countries, many developed countries (like the US) believe that any treaty that does not include developing countries (particularly China) would be fruitless.  1. The Economist, 'A bad climate for development', 17th September 2009.
climate house believes were too late global climate change
Despite the failure of the Copenhagen Protocol, local, regional, national, and international organizations are all still working on solutions for climate change. The Kyoto Protocol was a failure by virtue of its design (too many credits would have gone to former Soviet countries whose GHG reductions were entirely attributable to economic collapse, which would have resulted in a cash transfer but no real reductions). Discussions continue on how best each country can reduce their GHG emissions while remaining economically competitive. The EU ETS trading scheme is an example of just such an endeavour. (See Carbon Trading Schemes)