The Fulham constituency disappeared in the boundary changes ahead of the 1997 election, and Carrington was selected as the Conservative candidate for the new Hammersmith and Fulham constituency, but was defeated by the Labour candidate Iain Coleman. He failed to regain the seat at the 2001 general election, but Carrington stayed active in local politics; was elected Chairman of the Kensington, Chelsea and Fulham Conservatives on 28 March 2012. On 11 September 2013 he was created a life peer taking the title Baron Carrington of Fulham, of Fulham in the London Borough of Hammersmith and Fulham. Carrington is a non-executive director of the Sharia-compliant Gatehouse Bank and the Arab-British Chamber of Commerce, as well as a trustee of St John's, Notting Hill.