diff --git a/Makefile b/Makefile
index c492327..3471919 100644
--- a/Makefile
+++ b/Makefile
@@ -163,7 +163,7 @@ $(LOCALBIN):
 ENVTEST ?= $(LOCALBIN)/setup-envtest
 
 ## Tool Versions
-CODE_GENERATOR_VERSION = v0.31.0
+CODE_GENERATOR_VERSION = v0.31.1
 
 # ENVTEST_K8S_VERSION refers to the version of kubebuilder assets to be downloaded by envtest binary.
 ENVTEST_K8S_VERSION = 1.31.0