State Street Corp. has been named one of the top 10 green companies by Newsweek magazine’s inaugural "Green Rankings 2009"-a ranking of America’s 500 largest publicly-traded companies based on sustainability.

State Street ranked number one among financial services companies and sixth overall in the "Green Rankings 2009" which assesses companies’ resource use, carbon emissions and its policies and strategies, along with its reputation among peers, according to a statement.

"We are honored to be recognized for our global commitment to environmental sustainability and approach to managing environmental impact," said Jay Hooley, president and chief operating officer of State Street. "This high ranking reinforces the importance that State Street has placed on these issues and emphasizes the need to continue to build on our success."

State Street was cited for doing "more than most" in an industry "slow to acknowledge its environmental impact" and for integrating climate change strategies into its business model. State Street first launched its environmental management system in 2005 and has since rolled it out to global locations across Asia, Australia, Europe and North America.

The Newsweek "Green Rankings 2009" were compiled over a year-long period in collaboration with research partners specializing in sustainability factors. Hewlett-Packard topped the list. Staples, a Framingham-based office supply retailer, was ranked 20th.