TALLAHASSEE, Fla. (WFLA) — Gov. Ron DeSantis and legislative leaders are targeting so-called “woke banking” with newly proposed legislation that would aim to “stop companies from playing politics with Floridians’ money.”

Environmental Social Governance (ESG) has become a popular GOP talking point in states like Texas and Florida. ESG investments were banned on the state level last year. On Monday, the governor announced new enhanced legislative proposals against them.

Supporters say ESG is a way for institutions to avoid investing in companies that back policies that could negatively impact the environment and the people who live in those communities.

But critics like the governor and house speaker Paul Renner say ESG investing does more harm than good.

“The biggest thing that ESG represents is a total hijacking of democracy,” Florida House Speaker Paul Renner said.

The proposal also enhances protections against discrimination of customers for political religious or social beliefs and prohibits the use of social credit scores.

House minority leader Rep. Fentrice Driskell points to potential financial impacts.

“I am concerned this could be a poor financial decision,” she said. “This is a governor who’s so focused on ‘WOKE’ that he is asleep at the wheel.”

The proposal will likely be on the agenda during this year’s regular legislative session, which starts in March.