Four Spurs players were in an offside position when Christian Eriksen took the free-kick, only for Shkodran Mustafi to foul Harry Kane and for the referee to point to the spot.
Arsenal had a chance to win it in the final minutes when substitute Pierre-Emerick Aubameyang was adjudged to have been fouled in the area, but the striker's weak effort from the spot was pushed away by Lloris.
"The club and players have to respect his decision and I'm glad he still receives a warm welcome with the Arsenal fans as I feel he still has a key role to play in how this season will end up".
"One month ago I said to everybody VAR is coming forward - it is hard for referees", Emery told BT Sport.
However, they come up against a Tottenham side who have won five of their last seven at home.
"It's important we get to the quarter-final after reaching this stage past year".
"Hugo is one of the best in the world, he does not need to show that, he can not prove nothing but the finger always points at the big players, like Hugo or if Harry misses big chances".
Xhaka, who played 90 minutes in Saturday's 1-1 north London derby against Tottenham, says returning to Europe's premier club competition after a spell in the Europa League will show their improvement.
Spurs were proving to be a match for their fierce rivals at the quarter-hour mark, but Arsenal went in front shortly afterwards after Kane had squandered a shooting chance at the other end.
Emery has now told Lacazette that he and Aubameyang must accept his decisions.
"I think VAR is coming to help them to be fair for one match like today".
"We don't win like in the last two games "Harry is the problem" or I don't know".
I think today that we played with a big collective spirit and tactically, I think we adapted well to battle them in our moments, also with transitions and some quality actions from our players.
"We played like a team, feeling together and pushing individually and collectively".