Light Emitting Diode: How does it save our environment?

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I'd read in a newspaper advertisement that a Company is selling lamps that uses light-emitting diode [L.E.D.]. The Company claimed that using LED lights will save our environment. For one, LED lights reduce carbon dioxide emissions since electricity consumption is reduced. That makes sense, the lesser we use electricity, the lesser we depend on electricity from coal energy plants, and the lesser we depend on these coal plants, the lesser these energy plants emit pollution. The Company contends that LED lights has long life and does not require much maintenance. Thus, it's more efficient than our regular light bulbs. However, LED is much more expensive. What else do you know about LED lights? Is this really beneficial to our environment? Would it be practical for the government to use LED lights in our street lightposts?