Bring the broth to a simmer in a medium pot and keep it warm over low heat.

Heat the olive oil over medium-low heat in a large skillet. Add the chopped onion, carrots and sauté until softened, about 5-7 minutes.

Add the peas and 1-2 ladles of broth to the pan and cook for about 5 minutes over medium-high heat until the broth has evaporated.

Add the rice to the pan and toast for about 3 minutes. Gradually add the warm broth, a ladleful at a time, stirring often until the liquid is absorbed.

Continue this process, adding more broth, until the rice is al dente and the risotto has a creamy consistency, about 18-22 minutes.

Remove the pan from the heat and stir in the butter, basil, and Parmesan cheese until they are well combined.

Serve the risotto immediately, garnished with a sprinkle of parmesan cheese and fresh herbs.