It is important to consider the negative effects for the sake of our young generation.
We like ‘for the sake of’, but not ‘our young generation’. It’s grammatically correct but doesn’t feel right. Therefore we probably have a collocation problem.
How about this:
When you think about it, future generations all start out young, and we would hope that there will be more than one future generation. In academic writing it is also better to avoid personal pronouns, even possessives (‘our’). We therefore recommend the phrase for the sake of future generations.