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The memorial commemorates the 127 men from the Borough Polytechnic Institute who lost their lives during the First World War. Staff, students and relatives paid for the memorial, which was dedicated in 1921 by the Bishop of Southwark, who hoped it would, 'help to weave into the lives of others who study here and who come within this hall…the memory and the example of those who died... [and make] successive generations feel that they are becoming members of a corporate society, of real fellowship.'

The Polytechnic's student common room (today's digital gallery) was the memorials first home, but when the room was converted into a telephone exchange in the 1960s, the memorial was placed into storage. Rediscovered in 1996, the University restored and re-erected the memorial in the Edric Hall. The hall's refurbishment in 2004 meant the memorial was once again put into storage.

Over the Easter holiday of 2010, the Estates & Facilities Department, in consultation with the Chaplain and University Archivist, arranged for the memorial to be assembled in its current location which provides the memorial with a permanent home as close as possible to its original location and allows room for public commemoration.

The Nathu Puri Institute, based in the university's Faculty of Engineering, Science and The Built Environment was established in order to foster enterprise amongst engineers and support the UK engineering industry.

The Borough Gallery was established with funding from the Heritage Lottery Fund to exhibit A David Bomberg Legacy - The Sarah Rose Collection, a collection of paintings and drawings by the artist David Bomberg and members of the Borough Group. The collection was built up over thirty years by Sarah Rose and includes over 150 works spanning a period of nearly 100 years. The Gallery is dedicated to exhibiting work from the collection and to carrying out a related programme of exhibitions, events and education activities.

The official opening event included speeches by the guest of honour Alan Yentob, Creative Director at the BBC as well as Wesley Kerr, Chair of the London Committee, Heritage Lottery Fund and Sarah Rose. Special guests included Cliff Holden and Dennis Creffield who were members of the Borough Group.

In December 2009 the Research and Business Development Office (RBDO) at LSBU held an event to raise awareness of business enterprise and how best to succeed as part of Global Entrepreneurship Week. Guest speakers included James Caan, a judge on BBC's Dragon's Den.

Dr Nobuhiro Iijima, an alumnus of the National Bakery School, was made an Honorary Doctor of Science in 1992. Mr. Iijima is president and CEO of Yamazaki Baking Co., Japan's leading manufacturer of bread and baked goods.

Lord Sainsbury was made an Honorary Doctor of Letters of South Bank University in 1992.

Betty Boothroyd, Baroness Boothroyd OM, PC, Hon. FSLL (born 8 October 1929) is a British politician who served as the Member of Parliament (MP) for West Bromwich and West Bromwich West from 1973 to 2000. From 1992 to 2000, she served as Speaker of the House of Commons. She is the only woman to have served as Speaker.
Betty Boothroyd was made an Honorary Doctor of Letters in 1992.

Sir Graham Day was made an Honorary Doctor of Laws in 1993.

Zoë Wanamaker was made an Honorary Doctor of Letters in October 1995.

Professor Christopher Jennings was made an Honorary Fellow of the University in 1999.

Professor Anthony Giddens is an English sociologist who is known for his theory of structuration and his holistic view of modern societies. He was made an Honorary Doctor of Letters in October 1997.
Giddens was appointed to a life peerage on 16 June 2004 as Baron Giddens, of Southgate in the London Borough of Enfield.

Sir Cyril Chantler GBE FRCP FRCPCH FMedSci is a British paediatric nephrologist. Chantler was notable for devising a method with Norman Veale of measuring glomerular function in children and later researched diet and growth failure in children with renal impairment. Chantler was most notable for holding an independent review of public health evidence for standardised tobacco packaging that later became known as the Chantler Review that led to standardised packaging for tobacco and cigarette packets.
Sir Cyril Chantler was made an Honorary Doctor of Science of the University in November 1999.

Esther Rantzen was made an Honorary Doctor of Letters of the University in November 2000.

Mark Trevor Phillips OBE ARCS FIC a British writer, broadcaster and former chair of the Equality and Human Rights Commission.
Trevor Phillips was made an Honorary Doctor of Letters of the University in 2001.

Dame DeAnne Shirley Julius, DCMG, CBE is a former Assistant Director and economic analyst for the Central Intelligence Agency (CIA). An American-British economist, Julius is noted as a founder member of the Monetary Policy Committee of the Bank of England.
Dr DeAnne Julius was made an Honorary Doctor of Laws in 2001.

Professor David Cannadine was made an Honorary Doctor of Letters in November 2001.

John, Baron Krebs is an English zoologist researching in the field of behavioural ecology of birds. He was the Chief Executive of the Natural Environment Research Council 1994–1999 and in 1999 was knighted. From 2000–2005 he was the first Chairman of the British Food Standards Agency.
Lord Krebs (then known as Sir John Krebs) was made an Honorary Doctor of Science in 2003.

Tessa Sanderson was made an Honorary Fellow of the University in 2004 for her services to the community and the development of sports education.

Tessa Sanderson is a British former javelin thrower and heptathlete. A six-time Olympian in the javelin from 1976 to 1996, she won the gold medal in 1984 for Great Britain, and in 1996 she became the second track and field athlete, after discus thrower Lia Manoliu, to compete at six Olympics. She is the first black British woman to have won an Olympic gold medal. Sanderson served as Vice-Chairman of Sport England from 1999 to 2005, and in 2009 established the Tessa Sanderson Foundation and Academy, which aims to encourage young people and people with disabilities to take up sport.

Peter Kyle was made an Honorary Fellow of the University in 2005 in recognition of his work as Chief Executive of the Shakespeare's Globe Theatre.