Chalker was granted a life peerage as Baroness Chalker of Wallasey, of Leigh-on-Sea in the County of Essex in 1992, after losing her seat at the General Election of that year. Chalker is the founder and president of Africa Matters Limited, an independent consultancy providing advice and assistance to companies initiating, developing or growing their activities in Africa. She is a member of the international advisory board of Lafarge and sits on the board of trustees of for Africa. She is a consultant for Uganda's Presidential Investors Roundtable that advises the president Yoweri Museveni of Uganda, on ways to improve Uganda's investment climate and competitiveness. Patrick Chalker is a founding member of the Global Leadership Foundation, an organisation which works to support democratic leadership, prevent and resolve conflict through mediation and promote good governance in the form of democratic institutions, open markets, human rights and the rule of law. It does so by making available, discreetly and in confidence, the experience of former leaders to today's national leaders. It is a not-for-profit organisation composed of former heads of government, senior governmental and international organisation officials who work closely with heads of government on governance-related issues of concern to them. Chalker is a member of the board of trustees of Sentebale, a Charity set-up to reach Lesotho's neediest children, many of whom are the victims of extreme poverty and the HIV/AIDS epidemic of that area. Chalker founded the , which seeks to support the improvement of healthcare in Africa. She held the position of non-executive director and chairman of the Corporate Responsibility and Reputation Committee for Unilever, retiring in May 2007, having served three terms of three years. She joined the board of Unilever as an advisory director in 1998, becoming a non-executive director in 2004. She also served on Africa Advisory Board of Renaissance Capital. Chalker is a former chairman of the Medicines for Malaria Venture, a not-for-profit foundation dedicated to reducing the burden of malaria in disease endemic countries. She is a former non-executive director of Group Five. She was awarded the Livingstone Medal by the Royal Scottish Geographical Society in 2000. In June 2014, Chalker was awarded honorary citizenship of Mozambique by President Armando Guebuza for services to that country. Chalker was shortlisted for the Grassroot Diplomat Initiative Award in 2015 for her work with Africa Matters, and she remains in the directory of the Grassroot DiplomatWho's Who publication. In 2018, it was announced that Chalker would take over from Nicholas Crane as president of the Royal Geographical Society.