Canada set to preside over G7 in 2025 -- what that means and what's at stake

Canada is set to take over the presidency of the G7 in 2025, leading a forum of seven of the world's most advanced economies at a time of political instability at home and around the world.

Canada is set to take over the presidency of the G7 in 2025, leading a forum of seven of the world's most advanced economies at a time of political instability at home and around the world.

Here's a look at what hosting the G7 means, and what's at stake.

The G7 includes the United States, France, Germany, Japan, the United Kingdom, Italy and Canada, as well as the European Union. For five decades, the group's governments have co-ordinated how liberal democracies respond to economic and societal challenges.

The G7 has no charter, offices or permanent administration. It makes decisions based on consensus, without formal votes.

The rotating presidency involves a series of meetings across the hosting country for senior officials of G7 countries, who co-ordinate policies ranging from defence to digital regulation. Some meetings involve civil society groups, business leaders and organized labour.

Hosting culminates in a leaders' summit, where heads of government gather to take stock of the world's main challenges. That often ends with a communique that sets the tone for other industrialized democracies, and can shape global policies at the United Nations.

Canada joined the group in 1976 and this year will be chairing its meetings for the seventh time. Ottawa plans to host the leaders' summit June 15 to 17 in Kananaskis, Alta.