This report by UNESCO’s International Bioethics Committee (IBC) goes beyond weighing the benefits and harms of the digital environment on the mental health and well-being of young people. Rather, it also explores the ethical challenges involved, including the best interests of children, their autonomy, the unequal impacts of the digital environment across socio-economic contexts, as well as the shared responsibility of all stakeholders - from parents to the digital industry. This report is a strong call for the rights and needs of young people to be placed at the heart of the design and deployment of digital technologies and platforms. It also advocates for a comprehensive, multi-stakeholder approach that protects children and adolescents from harm and manipulation while safeguarding their freedom to explore, learn, and participate meaningfully in the digital sphere.