The focus of the Summit in Los Cabos (Mexico) in 2012 was on fighting youth unemployment and creating quality jobs with social security coverage and fair income. The Summit also highlighted the link between the development agenda, agriculture, and green growth. In St. Petersburg (Russia) in 2013, major progress was made on combating tax evasion and avoidance. The G20 agreed on the automatic exchange of tax information and the Action Plan on Base Erosion and Profit Shifting (BEPS). This was intended to help create a regulatory policy to oversee the activities of multinational businesses which were engaging in tax avoidance by minimizing profits and shifting profits outside the countries, where the activities deriving those profits are performed. At the Brisbane Summit (Australia) in 2014, the G20 set itself the ambitious goal of increasing its collective GDP by an additional two percent. Another important step was taken in the field of banking regulation wherein the Finance Ministers and Central Bank Governors endorsed the Common Reporting Standard for Automatic Exchange of Tax Information. The Leaders endorsed the ‘Brisbane 25 by 25’ goal which aimed at reducing the gender gap in the labour workforce by 25% by 2025.
