diff --git a/Dockerfile b/Dockerfile
index 3ee3915d2..f81586b22 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -15,7 +15,7 @@
 # limitations under the License.
 
 # Build the manager binary
-FROM golang:1.20.11 as toolchain
+FROM golang:1.20.12 as toolchain
 
 # Run this with docker build --build_arg $(go env GOPROXY) to override the goproxy
 ARG goproxy=https://proxy.golang.org,direct
diff --git a/Makefile b/Makefile
index 46eff619f..f34065b98 100644
--- a/Makefile
+++ b/Makefile
@@ -18,7 +18,7 @@ ROOT_DIR_RELATIVE := .
 
 include $(ROOT_DIR_RELATIVE)/common.mk
 
-GO_VERSION ?= 1.20.11
+GO_VERSION ?= 1.20.12
 
 # Image URL to use all building/pushing image targets
 IMG ?= controller:latest
diff --git a/hack/ccm/Dockerfile b/hack/ccm/Dockerfile
index e500a24cf..d03e3a2f7 100644
--- a/hack/ccm/Dockerfile
+++ b/hack/ccm/Dockerfile
@@ -18,7 +18,7 @@ ARG TARGETPLATFORM=linux/amd64
 ARG ARCH=amd64
 
 # Build IBM cloud controller manager binary
-FROM golang:1.20.11 AS ccm-builder
+FROM golang:1.20.12 AS ccm-builder
 ARG ARCH
 ARG POWERVS_CLOUD_CONTROLLER_COMMIT
 WORKDIR /build