Shell has announced that it is looking to invest between £20billion and £25billion in the UK energy system over the next decade.
David Bunch, the energy giant's UK country chair, said three quarters of those funds would be spent on zero carbon projects, accelerating the firm's energy transition.
He was responding to Chancellor Rishi Sunak's Spring Statement, which called for a new “culture of enterprise” and greater capital investment that will increase UK productivity, skills development and growth.
Writing on LinkedIn, Mr Bunch said: "Today I can announce that Shell UK is planning to invest between £20 and £25billion into the UK energy system over the next decade.
"More than 75% of this will be in low and zero-carbon products and services, including offshore wind, hydrogen and electric mobility.
"These investments, subject to board approval, aim to propel the UK closer to net zero and help to ensure security of supply whilst stimulating economic growth and jobs.
"However, Shell cannot act alone. Investing this money requires urgency of action across government to deliver the enabling policy and business case frameworks. These must address both the supply and demand side of the energy transition (in areas such as hydrogen and CCS, for example)."
Mr Bunch also called for a more reasoned debate about the UK's energy mix, something AGCC has led on in recent months.
"We will also need a stable political discourse, as I mentioned in my meeting with the Prime Minister and industry leaders last week," he said.
"We look forward to working together to help the UK secure its future energy supply and move towards its 2050 net-zero target.
"I will be setting out more detail on Shell UK’s plans on all this in the months ahead."