diff --git a/CHANGELOG.md b/CHANGELOG.md
index 34b92f676..15108e524 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,12 +1,8 @@
 # Changelog
 
-## Unreleased
+## 5.0.0
 
-Release date: YYYY-MM-DD
-
-Code freeze date: YYYY-MM-DD
-
-### Description
+Release date: 2024-07-19
 
 ### Dependency Changes
 
diff --git a/climada/_version.py b/climada/_version.py
index 3407d4bc6..a0f66580c 100644
--- a/climada/_version.py
+++ b/climada/_version.py
@@ -1 +1 @@
-__version__ = '4.1.2-dev'
+__version__ = '5.0.0'
diff --git a/setup.py b/setup.py
index 0961cf1b5..99652b0fc 100644
--- a/setup.py
+++ b/setup.py
@@ -33,7 +33,7 @@
 setup(
     name='climada',
 
-    version='4.1.2-dev',
+    version='5.0.0',
 
     description='CLIMADA in Python',