diff --git a/packages/cli/package.json b/packages/cli/package.json
index 2aba00b0e3..3c9f85ac30 100644
--- a/packages/cli/package.json
+++ b/packages/cli/package.json
@@ -47,7 +47,7 @@
     "@svgr/webpack": "4.3.x",
     "@types/start-server-webpack-plugin": "^2.2.0",
     "@types/webpack-env": "^1.15.2",
-    "@types/webpack-node-externals": "^1.7.1",
+    "@types/webpack-node-externals": "^2.5.0",
     "bfj": "^7.0.2",
     "chalk": "^4.0.0",
     "chokidar": "^3.3.1",
diff --git a/packages/cli/src/lib/bundler/config.ts b/packages/cli/src/lib/bundler/config.ts
index 56150ad968..8049ce436d 100644
--- a/packages/cli/src/lib/bundler/config.ts
+++ b/packages/cli/src/lib/bundler/config.ts
@@ -152,11 +152,11 @@ export function createBackendConfig(
     externals: [
       nodeExternals({
         modulesDir: paths.rootNodeModules,
-        whitelist: ['webpack/hot/poll?100', /\@backstage\/.*/],
+        allowlist: ['webpack/hot/poll?100', /\@backstage\/.*/],
       }),
       nodeExternals({
         modulesDir: paths.targetNodeModules,
-        whitelist: ['webpack/hot/poll?100', /\@backstage\/.*/],
+        allowlist: ['webpack/hot/poll?100', /\@backstage\/.*/],
       }),
     ],
     target: 'node' as const,
diff --git a/packages/storybook/.storybook/webpack-plugin-fail-build-on-warning.js b/packages/storybook/.storybook/webpack-plugin-fail-build-on-warning.js
index 1ccf825839..b812b6bac9 100644
--- a/packages/storybook/.storybook/webpack-plugin-fail-build-on-warning.js
+++ b/packages/storybook/.storybook/webpack-plugin-fail-build-on-warning.js
@@ -19,7 +19,7 @@
  * https://github.com/spotify/backstage/issues/718. To make sure new warnings are not introduced with new PRs, we
  * want to fail CI builds if there are warnings when building storybook.
  *
- * This webpack plugin makes sure the CI builds fail on Webpack warnings. We also have a whitelist of warnings here
+ * This webpack plugin makes sure the CI builds fail on Webpack warnings. We also have an allowlist of warnings here
  * which we think are non-critical.
  *
  * Note that this implementation will not detect other warnings emitted by storybook build that are separate from
@@ -32,7 +32,7 @@
  */
 class WebpackPluginFailBuildOnWarning {
   // Ignore the following warnings in the Webpack build.
-  warningsWhitelist = new Set([
+  warningsAllowlist = new Set([
     'AssetsOverSizeLimitWarning',
     'EntrypointsOverSizeLimitWarning',
     'NoAsyncChunksWarning',
@@ -50,7 +50,7 @@ class WebpackPluginFailBuildOnWarning {
     if (warnings.length > 0) {
       // Throw error if there are unexpected warnings.
       for (let warning of warnings) {
-        if (!this.warningsWhitelist.has(warning.name)) {
+        if (!this.warningsAllowlist.has(warning.name)) {
           process.on('beforeExit', () => {
             console.log(
               `You have some unexpected warning(s) in your webpack build. Exiting process as error.`,
diff --git a/yarn.lock b/yarn.lock
index 62335b1479..9341567067 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -5202,10 +5202,10 @@
   resolved "https://registry.npmjs.org/@types/webpack-env/-/webpack-env-1.15.2.tgz#927997342bb9f4a5185a86e6579a0a18afc33b0a"
   integrity sha512-67ZgZpAlhIICIdfQrB5fnDvaKFcDxpKibxznfYRVAT4mQE41Dido/3Ty+E3xGBmTogc5+0Qb8tWhna+5B8z1iQ==
 
-"@types/webpack-node-externals@^1.7.1":
-  version "1.7.1"
-  resolved "https://registry.npmjs.org/@types/webpack-node-externals/-/webpack-node-externals-1.7.1.tgz#73d0d7ae0e98cfbd69b7443388302cd69217494a"
-  integrity sha512-kbO2gYPKvMb5j1KOgnIuUH52CKul9Ud4b10J5n+JX8oHmgu86hYpBVfrV4bMDe5lhCaO64h8QrKz7WnRZzqkbA==
+"@types/webpack-node-externals@^2.5.0":
+  version "2.5.0"
+  resolved "https://registry.npmjs.org/@types/webpack-node-externals/-/webpack-node-externals-2.5.0.tgz#bcd161af84a4960416e5850e06931b35321c6654"
+  integrity sha512-KaWfhUQlpWknM/CMBKhV7i0vxX/N2xEy3WeaE500s4ZNxC4nLnKB+0F3gD3Fg+5octPq0nn8ZlfFR/P3dSkXpw==
   dependencies:
     "@types/webpack" "*"