Dr Jeremy Cheesman

PhD (ANU), MCom (UNSW), BSc (Hons) (UNSW)


Environment & Climate Change, Public Policy, Water, Other Sectors, Agriculture & Earth Resources


Market design, Market performance & evaluation, Non-market valuation, Policy design, Governance & institutions, Policy evaluation & reform, Strategy design, Due diligence, Strategy performance evaluation & reform, Investment appraisal & business cases, Quantitative methods & modelling

Jeremy is one of Australia’s leading applied natural resource and environmental economists, specialising in water and the environment. Get in contact with Jeremy if you want to talk about environmental economics, investment appraisal, non-market valuation, governance, market design or policy design.

Jeremy has significant and award-winning experience in the Australian urban and rural water sectors, and waterway and catchment economics and policy. He has strong trusted networks across senior levels of Government and industry. Clients like working with Jeremy for his leading expertise in environmental economics, his deep industry networks, and his practical and proven approaches for delivering environmental and natural resource economics, policy and market work.

Examples of Jeremy’s work include:

  • Regulation, policy, governance and institutions. Jeremy has worked extensively with all levels of Government to design, evaluate and reform natural resource and environmental regulation, governance and policy. Work includes advising Infrastructure Victoria in 2019 on water governance reform opportunities, and the 2020 Independent Assessment on Social and Economic Conditions in the Murray-Darling Basin. He has also led regulation, governance, policy design and reform assessments covering urban water policy, catchment policy, and native vegetation policy, among others. Jeremy regularly works with Boards, Ministerial Advisors and senior executives.
  • Investment appraisal. Jeremy is one of Australia’s leading advisors to State and Commonwealth governments on the economics of stormwater, catchments and waterways. He has extensive and award-winning experience in designing and delivering investment prioritisation projects. Projects in the last couple of years include working with the Queensland Government to prioritise the $8.2 billion of investments needed to achieving regional water quality targets for the Great Barrier Reef; working with NSW, WA and Victorian water businesses to develop robust and defensible frameworks and investment logics for stormwater, catchment and waterway investment; working with Victorian Catchment Management Authorities to demonstrate the benefits of environmental flow investments; and working with water businesses across Australia to develop robust and defensible investment cases for integrated water management investments.
  • Non-market valuation. Jeremy is one of Australia’s leading non-market valuation practitioners. He has published around a dozen peer reviewed non-market valuation papers and has tutored and lectured in non-market valuation at the Australian National University. Jeremy has undertaken more than 50 non-market valuation studies over the past five years, including estimating the economic value of watershed services provided by Victorian Parks; evaluating the economic benefits of environmental flow regimes in the Murray Darling Basin; estimating the non-market economic benefits of integrated water management (IWM) and water sensitive urban design (WSUD); and estimating water business customers’ willingness to pay for discretionary investments to support pricing submissions. He has designed and implemented more than two dozen stated-preference and revealed preference survey and studies.
  • Environmental and natural resource markets, funding and financing mechanisms. Jeremy is one of Australia’s leading advisors to State and Commonwealth governments on market-based approaches for managing environmental issues. In 2018, he led the development of the Victorian stormwater offsets recommendations as a member of the Victorian Stormwater Ministerial Advisory Committee. He was the lead economist in the team that developed the Victorian water quality offsets framework. He has designed innovative and award-winning stormwater offsets, auctions, in-lieu, and cap and trade approaches to address urban and rural catchment and waterway issues, and vegetation management issues. He is a Founding Director of the Waterflow water market information platform.

Jeremy has more than two decades of experience in natural resource and environmental economics. He has worked on environmental economic and natural resource matters across Australia, the US, and South-East Asia and published more than a dozen peer-reviewed papers. His PhD focused on integrated hydro- and bio-economic modelling to inform natural resource management investment prioritisation in impaired intensive agriculture and urban catchments using spatial modelling, production efficiency analysis, non-market valuation and benefit cost analysis.

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