HSBC Group is to pilot virtual boardrooms in its major global offices as from June. The high-quality teleconferencing facilities in London, Paris, Hong Kong and New York are being developed at a cost of about $100,000 (Lm33,670) each.

HSBC Group Chief Information Officer Ken Harvey says the company will examine savings generated from a reduction in air travel before deciding on the viability of further installations. Harvey plans to implement connecting virtual meeting rooms in major locations, including life-size video boards with areas cut out for delegates. “The voice is directional and when people leave the meeting they feel as if they had really been with the other people in person,” said Mr Harvey.

Despite the unit cost of $5,000 (Lm1,683) to install the video-conferencing facility on individual computers and large bandwidth requirements, Mr Harvey says there is a net return on investment.

In the light of pressing environmental concerns, such an initiative is being considered laudable and timely by a number of business observers. For them, the expansion and development of teleconferencing facilities shows an awareness of sustainable environment issues and good leadership which should be emulated.