diff --git a/.github/release-please-manifest.json b/.github/release-please-manifest.json
index 2d2b6b2e..77e8cb2c 100644
--- a/.github/release-please-manifest.json
+++ b/.github/release-please-manifest.json
@@ -1 +1 @@
-{".":"1.20.0"}
+{".":"1.21.0"}
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 030617fe..a0f1eca4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,26 @@
 # Changelog
 
+## [1.21.0](https://github.com/hetznercloud/hcloud-cloud-controller-manager/compare/v1.20.0...v1.21.0) (2024-11-19)
+
+
+### Features
+
+* add support & tests for Kubernetes 1.31 ([#747](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/747)) ([c1e903c](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/c1e903c798b19f7091a8ca36a042cc81d609fc54))
+* drop tests for kubernetes v1.27 ([#748](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/748)) ([0485215](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/0485215b0e4e12850c218b974677cc9ff45d7288))
+* emit event when robot server name and node name mismatch ([#773](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/773)) ([7960ddc](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/7960ddc0774dbce3d5f207561b07c218f5c236de))
+* **helm:** allow setting extra pod volumes via chart values  ([#744](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/744)) ([ad43445](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/ad43445c0e945482099561d2bed0a3c8f125e13f)), closes [#743](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/743)
+* **instance:** add label to distinguish servers from Cloud and Robot ([#764](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/764)) ([e6c0356](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/e6c03563d63f4ace31fc307f8a0f8fba9846353a))
+* **load-balancer:** Set IPMode to "Proxy" if load balancer is configured to use proxy protocol ([#727](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/727)) ([#783](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/783)) ([c9cfdaf](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/c9cfdafa93ecf0702687c927a28a42c2eb07bd2e))
+* **service:** Specify private ip for loadbalancer ([#724](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/724)) ([4801f0e](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/4801f0e9d645a7c96799b823935098c5562a94b0))
+
+
+### Bug Fixes
+
+* invalid characters in label instance-type of robot servers ([#770](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/770)) ([dfffde7](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/dfffde70c905c15f3c1235991a1dcfb3c2817912))
+* no events are emitted as broadcaster has no sink configured ([#774](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/774)) ([635c727](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/635c72775d8a095c1115ea4ad884103b0c08620b))
+* populate ingress private ip when disable-private-ingress is false ([#715](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/715)) ([8d29153](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/8d291534a1adbb8bc9df0db7e5bd9f432ff2de6e))
+* wrong version logged on startup ([#729](https://github.com/hetznercloud/hcloud-cloud-controller-manager/issues/729)) ([6b8cbf4](https://github.com/hetznercloud/hcloud-cloud-controller-manager/commit/6b8cbf4f4c0e2a8e7a98bd7c8346b958e638ba57))
+
 ## [1.20.0](https://github.com/hetznercloud/hcloud-cloud-controller-manager/compare/v1.19.0...v1.20.0) (2024-07-08)
 
 
diff --git a/chart/Chart.yaml b/chart/Chart.yaml
index 990417af..f4fa1aa0 100644
--- a/chart/Chart.yaml
+++ b/chart/Chart.yaml
@@ -1,4 +1,4 @@
 apiVersion: v2
 name: hcloud-cloud-controller-manager
 type: application
-version: 1.20.0
+version: 1.21.0
diff --git a/deploy/ccm-networks.yaml b/deploy/ccm-networks.yaml
index 204aa8bf..24769297 100644
--- a/deploy/ccm-networks.yaml
+++ b/deploy/ccm-networks.yaml
@@ -91,7 +91,7 @@ spec:
                 secretKeyRef:
                   key: network
                   name: hcloud
-          image: docker.io/hetznercloud/hcloud-cloud-controller-manager:v1.20.0 # x-release-please-version
+          image: docker.io/hetznercloud/hcloud-cloud-controller-manager:v1.21.0 # x-release-please-version
           ports:
             - name: metrics
               containerPort: 8233
diff --git a/deploy/ccm.yaml b/deploy/ccm.yaml
index 3920f34a..d37ad973 100644
--- a/deploy/ccm.yaml
+++ b/deploy/ccm.yaml
@@ -83,7 +83,7 @@ spec:
                   key: robot-user
                   name: hcloud
                   optional: true
-          image: docker.io/hetznercloud/hcloud-cloud-controller-manager:v1.20.0 # x-release-please-version
+          image: docker.io/hetznercloud/hcloud-cloud-controller-manager:v1.21.0 # x-release-please-version
           ports:
             - name: metrics
               containerPort: 8233