diff --git a/charts/karpenter/templates/role.yaml b/charts/karpenter/templates/role.yaml
index ad83a6f14a72..372771038289 100644
--- a/charts/karpenter/templates/role.yaml
+++ b/charts/karpenter/templates/role.yaml
@@ -55,24 +55,3 @@ rules:
     resources: ["services"]
     resourceNames: ["kube-dns"]
     verbs: ["get"]
----
-apiVersion: rbac.authorization.k8s.io/v1
-kind: Role
-metadata:
-  name: {{ include "karpenter.fullname" . }}-lease
-  namespace: kube-node-lease
-  labels:
-    {{- include "karpenter.labels" . | nindent 4 }}
-  {{- with .Values.additionalAnnotations }}
-  annotations:
-    {{- toYaml . | nindent 4 }}
-  {{- end }}
-rules:
-  # Read
-  - apiGroups: ["coordination.k8s.io"]
-    resources: ["leases"]
-    verbs: ["get", "list", "watch"]
-  # Write
-  - apiGroups: ["coordination.k8s.io"]
-    resources: ["leases"]
-    verbs: ["delete"]
diff --git a/charts/karpenter/templates/rolebinding.yaml b/charts/karpenter/templates/rolebinding.yaml
index 8606a4902d95..ba54e1830545 100644
--- a/charts/karpenter/templates/rolebinding.yaml
+++ b/charts/karpenter/templates/rolebinding.yaml
@@ -33,26 +33,6 @@ roleRef:
   apiGroup: rbac.authorization.k8s.io
   kind: Role
   name: {{ include "karpenter.fullname" . }}-dns
-subjects:
-  - kind: ServiceAccount
-    name: {{ template "karpenter.serviceAccountName" . }}
-    namespace: {{ .Release.Namespace }}
---- 
-apiVersion: rbac.authorization.k8s.io/v1
-kind: RoleBinding
-metadata:
-  name: {{ include "karpenter.fullname" . }}-lease
-  namespace: kube-node-lease
-  labels:
-    {{- include "karpenter.labels" . | nindent 4 }}
-  {{- with .Values.additionalAnnotations }}
-  annotations:
-    {{- toYaml . | nindent 4 }}
-  {{- end }}
-roleRef:
-  apiGroup: rbac.authorization.k8s.io
-  kind: Role
-  name: {{ include "karpenter.fullname" . }}-lease
 subjects:
   - kind: ServiceAccount
     name: {{ template "karpenter.serviceAccountName" . }}
diff --git a/go.mod b/go.mod
index 4be72649ec49..071b2ac397f0 100644
--- a/go.mod
+++ b/go.mod
@@ -32,7 +32,7 @@ require (
 	k8s.io/utils v0.0.0-20240102154912-e7106e64919e
 	knative.dev/pkg v0.0.0-20231010144348-ca8c009405dd
 	sigs.k8s.io/controller-runtime v0.18.5
-	sigs.k8s.io/karpenter v1.0.1-0.20240820174000-8e40c0c92224
+	sigs.k8s.io/karpenter v1.0.1-0.20240821214627-9469d1919054
 	sigs.k8s.io/yaml v1.4.0
 )
 
diff --git a/go.sum b/go.sum
index 95a57abcaab0..720364989f80 100644
--- a/go.sum
+++ b/go.sum
@@ -762,8 +762,8 @@ sigs.k8s.io/controller-runtime v0.18.5 h1:nTHio/W+Q4aBlQMgbnC5hZb4IjIidyrizMai9P
 sigs.k8s.io/controller-runtime v0.18.5/go.mod h1:TVoGrfdpbA9VRFaRnKgk9P5/atA0pMwq+f+msb9M8Sg=
 sigs.k8s.io/json v0.0.0-20221116044647-bc3834ca7abd h1:EDPBXCAspyGV4jQlpZSudPeMmr1bNJefnuqLsRAsHZo=
 sigs.k8s.io/json v0.0.0-20221116044647-bc3834ca7abd/go.mod h1:B8JuhiUyNFVKdsE8h686QcCxMaH6HrOAZj4vswFpcB0=
-sigs.k8s.io/karpenter v1.0.1-0.20240820174000-8e40c0c92224 h1:T1OTA/jwiqWp55+gb8CCT5PoyZjIywjspe9UuLU/dgc=
-sigs.k8s.io/karpenter v1.0.1-0.20240820174000-8e40c0c92224/go.mod h1:e6yDwyO/5+h2NqTkvMmHf9ae/UnKbsOdSYuAnV0NErQ=
+sigs.k8s.io/karpenter v1.0.1-0.20240821214627-9469d1919054 h1:sazFOdf0qboIt5Zx+XPor7iX0H9zfEZCyCeuYHbhhbE=
+sigs.k8s.io/karpenter v1.0.1-0.20240821214627-9469d1919054/go.mod h1:e6yDwyO/5+h2NqTkvMmHf9ae/UnKbsOdSYuAnV0NErQ=
 sigs.k8s.io/structured-merge-diff/v4 v4.4.1 h1:150L+0vs/8DA78h1u02ooW1/fFq/Lwr+sGiqlzvrtq4=
 sigs.k8s.io/structured-merge-diff/v4 v4.4.1/go.mod h1:N8hJocpFajUSSeSJ9bOZ77VzejKZaXsTtZo4/u7Io08=
 sigs.k8s.io/yaml v1.4.0 h1:Mk1wCc2gy/F0THH0TAp1QYyJNzRm2KCLy3o5ASXVI5E=