Annual Report and Accounts

Principal's welcome

Professor Sir Peter Mathieson welcomes us to this year's Annual Report & Accounts.

At the University of Edinburgh, we are proud of our innovative teaching, research and partnerships.

I am privileged to represent the University at events locally, regionally and globally. In these challenging times, I am always hugely gratified by the extent to which the University of Edinburgh’s impact and reputation are recognised.

Outside Scotland, our University is uniformly seen as a truly outstanding institution: one which people admire, wish to join and/or are proud to call their alma mater. Much of this is based on our research credentials, but our societal and economic impacts more generally are also widely appreciated. This is often much less evident closer to home, where the focus is more frequently on local, immediate, and often controversial matters that are felt newsworthy. Such disconnect is also evident within the sector where, as Edinburgh is such a large and renowned university, it often feels that we are right at the forefront of sector issues even if they are not Edinburgh-specific: freedom of expression; academic freedom; industrial relations; partnerships with China and international security to name but some. We must all work harder to ensure that the reality of our University is heard, appreciated and better understood across all parts of the world. In this report, and in my further remarks below, some examples can be seen that illustrate our continuing and burgeoning excellence.

The ambition and dedication of our staff and students continue to drive us toward our vision for Strategy 2030: an accessible, sustainable and world-leading university that is a destination of choice for talented people on a local, national and international level.

As the English-speaking world’s oldest truly civic university, we remain as determined as ever to be relevant and accessible to our local community in Edinburgh and the surrounding region. We are also committed to maintaining and developing our global reach. For example, in March, I led a small Edinburgh delegation to Ghana to meet with partner individuals and organisations. We launched the Principal’s African Partnership Fund, committing £250,000 to explore educational opportunities for African students and to begin building research partnerships across the continent. We met with colleagues from Ghanaian and South African institutions, expanding on our deep-rooted internationalism and relationship with African talent. This mission is also supported by our continued commitment to the Mastercard Foundation Scholars Program across sub-Saharan Africa. Another key partnership is in Ukraine, with Taras Shevchenko National University of Kyiv (one of Edinburgh’s twin cities), including seminars, labs and hosting students from Ukraine here in Edinburgh.

One of the key values shaping Strategy 2030 is that our work is relevant to society: our world-leading research on artificial intelligence (AI) continues to embody this principle. The latest technology is being used to underpin our ultimate vision of making the world a better place. The University’s commitment to the Gaelic language culture and communities is cemented through the development of technology to support Gaelic in the digital age. Research continues into ways in which AI algorithms can help to create drugs to combat cancer and Alzheimer’s disease. A £46.3 million funding boost from the Medical Research Council will further world-leading DNA research at the University.

We are determined to continue positively shaping the world through our teaching, research and relationships with partners across the globe.

Professor Sir Peter MathiesonPrincipal and Vice Chancellor

This year also marks the expansion of our Student Support programme across 13 Schools and Deaneries. Student Advisers are now the main point of contact for undergraduate and postgraduate taught students, providing tailored support throughout their time with us. Our Curriculum Transformation programme is also shaping the future of learning at the University in partnership with staff and students.

Industrial action continued this year across many UK universities, with the University and College Union (UCU) escalating the action this summer into a marking and assessment boycott. Graduation was bittersweet for some – a celebration of the remarkable things achieved, tinged with bitter frustration that they did not yet have an award outcome. The University supported both local and national negotiations to bring the boycott to an end.

On 6 September 2023, UCU confirmed that the Marking and Assessment Boycott had been called off with immediate effect. This is a hugely positive step forward for our students, which the University welcomes. Our focus now turns to ensuring that course and degree outcomes are provided as swiftly as the academic process allows.

The triennial valuation of our largest pension scheme, the Universities Superannuation Scheme (USS), began in March 2023 and at the time of writing this report, the scheme trustees are in the process of agreeing a number of changes that would see improvement to benefits for members and a reduction in contributions for both members and employer organisations. The University of Edinburgh has participated in the process throughout the year and we remain committed to working with all parties to secure the long-term stability and viability of USS.

The implementation of our new People and Money system in August 2022 caused disruption to students, staff and suppliers. We are acutely aware of the impact this has had and we have introduced improvements, additional training and support as part of our robust response. An external review has been completed to highlight what lessons we can learn: this will help to inform future strategic change projects.

Despite these challenges, we should not forget the positives. The impact of the University on the city of Edinburgh is enhanced by the ambitious renovation of the former Edinburgh Royal Infirmary into our new Edinburgh Futures Institute: this massive multi-disciplinary teaching and research Institute will be the ‘front door’ of the University and will focus on society’s major challenges.

Significant developments are afoot at the Edinburgh BioQuarter, the site of the newer Edinburgh Royal Infirmary and a major location for our ever-expanding research and innovation activities. The student-focused building the Nucleus at King’s Buildings exemplifies our commitment to our students’ wellbeing. We have recently had our contribution to society formally quantified by an economic impact report by consultancy firm London Economics, which found that the University generates £7.52 billion per year in the UK economy. Every pound spent by the University yielded £6.90 in economic benefit across the UK, a 34 per cent increase in impact since 2015/16. We are creating new companies and new jobs at record rates, attracting inward investment into Scotland and promoting the creativity and entrepreneurship of Edinburgh across the world.

Looking forward, we are determined to continue positively shaping the world through our teaching, research and relationships with partners across the globe. As we will see in our Operational Review, while we may face national and global challenges, our innovative and resilient community is providing world-class solutions. Thank you to everyone that contributes to the massive engine of social mobility and economic improvement that is the University of Edinburgh.