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Pershing Square Capital Management’s founder Bill Ackman has thrown his hat into the inflation debate that has been simmering on social media amongst influential newsmakers including Cathie Wood and Elon Musk.

Ackman in a Twitter post Thursday said that central bankers haven’t considered the inflationary impact of ESG initiatives that are likely to be “persistent and growing”, not just “transitory.” Stakeholder capitalism is expected to not only help lift wages, but also boost energy costs, among other inflationary factors, according to Ackman.

Central bankers have not considered how inflationary ESG initiatives are. ESG is not transitory, but rather persistent and growing. Stakeholder capitalism will drive much needed increases in wages, but also higher energy costs, among other inflationary factors.
— Bill Ackman (@BillAckman) November 4, 2021

The costs of transitioning to cleaner fuel plus the stranding of polluting alternatives could increase the cost of energy at the same time that food, commodity and other essential prices have been rising.

He joins Ark Investment Management CEO Cathie Wood and Tesla Inc. founder Elon Musk over the past two weeks in weighing into the inflation debate that is emerging globally, amid supply chain logjams as nations begin to emerge from lockdowns spurred by the coronavirus pandemic.