China, the world's biggest polluter, also expressed its continued commitment to the accord, which Mr Trump has said advantages countries such as China and India at the expense of the United States. "We're supposed to get rid of ours", the President said, adding that the agreement "is less about the climate and more about other countries gaining a financial advantage over the U.S".
Malloy said that CT is "a national leader in combatting climate change" and has no intention of slowing efforts to reduce greenhouse gas emissions.
"I want the world to know that the USA will meet its Paris commitments and that through partnerships among cities, states and businesses we will seek to remain part of the Paris agreement process", Bloomberg said.
The money, offered by Bloomberg's philanthropic foundation, would ensure there was no disruption to the UN's work on climate change in the wake of Trump's decision, he said.
Tapping into the "America First" message he used on the election trail, Trump announced the withdrawal on Thursday, saying that participating in the pact would undermine the us economy, wipe out U.S.jobs, weaken national sovereignty and put his country at a permanent disadvantage.
Donald Trump, however, said that his administration would renegotiate either to re-enter the Paris accord or to have a new agreement "on terms that are fair to the United States, its businesses, its workers, its people, its taxpayers".
The $15 million would cover the USA share of the convention's operating budget, according to Bloomberg spokesperson Carl Pope.
Bloomberg is not the only business leader to oppose Trump's decision, either.
The announcement follows Trump's decision to pull out of the climate deal that almost 200 nations agreed to in late 2015.
"It's better Trump is outside the agreement rather than pulling it down from the inside", added Mohamed Adow of Christian Aid, which lobbies for poor country interests at the two-decade-old United Nations climate negotiations.
The architects of the Paris Agreement included Christiana Figueres, who until recently led the UNFCCC.
Meanwhile, mayors of more than 85 American cities signed a letter the same day President Trump made his announcement, confirming the commitment of their cities to promoting clean energy and reducing emissions. "In November, we will have the responsibility of heading the work of the European Union at the United Nations climate conference, which will definitely be a challenge, but we are ready for it".
Check out Boston, New York and more cities around the world showing support for the Paris Agreement.