Young People Are Worried About Climate Change—and That’s Affecting Their Future Plans
Nearly 70% of those surveyed say environmental concerns may affect career choice, while others say it’s a factor in decisions about having children
2 min
More than four in five young Americans are worried about the impact of climate change on people and the planet, according to a survey of nearly 16,000 youths published in Lancet Planetary Health on Thursday. Most respondents do not believe governments are doing enough to reduce emissions, and a majority are looking to the corporate sector to make big changes.
As this group of 16- to 25-year-olds enters the workforce, there’s some indication those feelings will affect big life decisions such as where to live, whether to have kids and what to do for work: 64% of respondents said they “strongly agree,” “agree” or “somewhat agree” that climate change will impact their plans for the future.
“We certainly can see that climate is causing a lot of distress,” said Eric Lewandowski, associate professor at New York University’s medical school and lead researcher on the study. He said this is the first survey of its kind that focuses on the U.S., and the largest his team is aware of. A global survey conducted in 2021 found similar levels of climate-related stress among youths around the world.
The study also examined links between experience of severe weather events and attitudes about climate change. The researchers found that regardless of political affiliation, people who said they had experienced severe weather events were more likely to report feeling worried about climate change. Just under half of respondents said they were “very sure” climate change is happening, and a further 20% were “moderately sure.”
“Being anxious about climate disruption is a legitimate response to a real threat,” said Lise Van Susteren, associate professor at George Washington University and researcher on the study. A co-founder of the Climate Psychiatry Alliance, a group that helps therapists support patients with environment-related anxiety, Van Susteren said the survey results confirmed what she has seen on the ground, but the numbers were more severe than she expected.
It’s still not clear whether feelings about climate change transfer into broader labor force trends. While 67% of respondents said they may choose to work for employers who show commitments to sustainability and reducing their climate impact, recruiters who work on hiring entry-level candidates for oil and gas jobs say they haven’t heard much about climate concerns, said Keith Wolf, Houston-based managing partner of staffing firm Murray Resources.
Wolf informally polled recruiters on his team, and they said entry-level candidates who expressed hesitancy to work for fossil-fuel companies were outnumbered by those who wanted to break into the field. Some job candidates expressed concerns about other factors affecting the industry, like volatility.
In 2017, Ernst & Young published a survey that found college students were reluctant to pursue jobs in the oil-and-gas industry because they viewed it as “dirty and dangerous,” said Tim Haskell, managing director at the accounting firm.
Since then, he said, employers have updated their talking points. “I think companies saw that message as well as some of their own internal research and have really tried to shift the employee value proposition to say, hey, come here and change the industry from the inside out,” Haskell said.
The Lancet survey found that climate-related concerns about the future extend beyond career choice. More than three-quarters of respondents said the future is frightening, and more than half of respondents agreed that they were hesitant to have children.
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From making unpopular decisions to learning when to listen, leaders from five businesses reveal what nobody prepared them for — and how running a company has challenged their expectations.
Technology and semiconductor shares fell sharply as investors questioned the debt financing the AI infrastructure boom and confronted higher rates and Chinese competition.
Technology and semiconductor shares fell sharply as investors questioned the debt financing the AI infrastructure boom and confronted higher rates and Chinese competition.
4 minA sharp technology sell-off has exposed a new anxiety on global markets: whether the enormous borrowing behind the artificial-intelligence infrastructure boom can generate sufficient returns as interest rates rise and Chinese competition intensifies.
The artificial-intelligence investment boom has powered technology shares, semiconductor manufacturers and data-centre operators to extraordinary heights. Last week, investors were given a reminder that much of this expansion is being built with borrowed money.
The technology-heavy Nasdaq Composite fell 4.5 per cent over the week ended October 16, its weakest performance since late June. Semiconductor shares suffered an even deeper correction, with the Philadelphia Semiconductor Index losing about 11.4 per cent.
The selling spread quickly through global markets. Micron Technology fell 14.6 per cent over the week, while South Korea’s Samsung Electronics and SK Hynix dropped approximately 18 per cent and 24 per cent respectively.
This was more than a routine bout of profit-taking. Investors were reassessing three interconnected risks: higher interest rates, the rapidly expanding debt burden attached to AI infrastructure and the prospect of stronger competition from Chinese memory-chip manufacturers.
The debt behind the AI build-out
Artificial intelligence requires a physical infrastructure network of enormous scale. Data centres must be built, advanced processors purchased, power supplies secured and cooling systems installed before customers begin generating meaningful revenue from them.
Technology companies are increasingly supplementing their own cash with corporate bonds, syndicated loans, equipment leases, private credit and project-level financing.
JPMorgan describes the emerging funding model as a combination of conventional corporate borrowing and project finance tied to individual data-centre assets. In Australia, the Reserve Bank estimates that syndicated loans accounted for approximately three-quarters of data-centre financing during 2025 and 2026 to date.
The numbers are becoming large enough to affect broader credit markets. The Federal Reserve Bank of Dallas has cited Wall Street estimates suggesting AI-related investment-grade bond issuance could approach US$300 billion in 2026 alone.
That borrowing is not automatically problematic. Debt can be an efficient way to finance long-lived infrastructure when future revenue is sufficiently predictable. The concern is that AI technology, customer demand and computing economics are changing much faster than the repayment schedules attached to the assets.
A data centre financed today may carry debt for years. Investors must therefore make assumptions about future utilisation rates, electricity prices, chip performance, customer concentration and the amount businesses will ultimately pay for AI computing.
When interest rates rise, those assumptions become less forgiving.
Inflation changes the calculation
September’s US inflation data intensified the pressure. Consumer prices increased 3.7 per cent over the year, ahead of market expectations and up from 3.4 per cent in August.
The hotter reading reduced confidence that interest rates would fall quickly and pushed bond yields higher. That matters particularly for companies whose valuations depend on profits expected well into the future, as well as highly leveraged infrastructure operators that may need to refinance.
CoreWeave has emerged as a closely watched test case. The specialist cloud-computing company has accumulated substantial debt and lease obligations to build AI capacity, while relying on a concentrated group of large technology customers.
Its shares fell sharply during the sell-off, while the cost of insuring its debt against default climbed. CoreWeave has argued that its contracted backlog more than covers its obligations and that financial markets do not always understand its business model. Nevertheless, its securities have become a proxy for investor confidence in debt-funded AI infrastructure.
Oracle, another major investor in AI computing capacity, fell 8.8 per cent in Friday trading, while CoreWeave dropped 15.5 per cent.
The question is shifting from how much AI infrastructure can be built to how profitably it can be operated.
China adds another source of pressure
Interest rates were not the only catalyst. Reports of advances by Chinese memory-chip producer ChangXin Memory Technologies raised concerns that lower-cost Chinese products could increase competition across the global semiconductor industry.
Memory chips are essential to AI systems, but the industry is historically cyclical. Periods of tight supply and high pricing can encourage rapid investment, eventually producing oversupply and falling margins.
The prospect of a well-funded Chinese competitor expanding its technological capabilities unsettled investors in Samsung, SK Hynix and Micron. It also demonstrated that AI-related demand does not insulate chipmakers from conventional competitive pressures.
That combination—slower rate cuts, more expensive financing and potentially cheaper supply—challenged the assumption that every company exposed to AI would enjoy continually expanding margins.
A reset rather than the end of the boom
The sell-off does not establish that the AI boom is ending. Demand for computing power remains strong, the largest technology companies continue to generate formidable cash flows and many infrastructure projects are backed by long-term customer contracts.
What has changed is the market’s willingness to overlook the price and financing structure of that growth.
The most resilient companies are likely to be those able to fund investment from operating cash flow, secure long-duration customers and demonstrate that new capacity will earn returns comfortably above its financing costs.
More speculative operators may face greater scrutiny, particularly where debt is expensive, customers are concentrated or expected revenue depends on demand that has not yet materialised.
For Australian investors, the lesson extends beyond US technology shares. Local data-centre operators, infrastructure funds, electricity suppliers and property groups are increasingly exposed to the same investment cycle.
Artificial intelligence may remain one of the defining growth themes of the decade. But last week’s correction showed that enthusiasm for the technology does not eliminate financial discipline.
The next stage of the AI boom will be judged not only by computing power, model performance or demand for chips, but by something more traditional: whether the assets being financed can generate enough cash to repay the money borrowed to build them.
Fact box
Nasdaq Composite: Down 4.5 per cent for the week ended October 16, 2026
Philadelphia Semiconductor Index: Down approximately 11.4 per cent
Micron Technology: Down approximately 14.6 per cent
Samsung Electronics: Down approximately 18 per cent
SK Hynix: Down approximately 24 per cent
US September inflation: 3.7 per cent annually
Estimated 2026 AI-related investment-grade issuance: Approximately US$300 billion
A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.
From making unpopular decisions to learning when to listen, leaders from five businesses reveal what nobody prepared them for — and how running a company has challenged their expectations.
