Heat the chicken stock in a saucepan over medium heat and maintain at a low simmer throughout the cooking process. Warm stock is essential for consistent risotto texture.

In a large saucepan, heat the olive oil and butter over medium heat until the butter is melted. Add the finely chopped onion and cook for 3–4 minutes, stirring occasionally, until it becomes translucent and fragrant.

Add the diced chicken to the saucepan. Stir gently and cook until the exterior of the chicken turns white, approximately 3–4 minutes. The chicken does not need to be fully cooked at this stage.

Stir in the diced red bell peppers and allow them to cook alongside the chicken for 3–4 minutes. The peppers should soften slightly and release their natural sweetness.

Add the Arborio rice to the saucepan, stirring to coat each grain in the butter and oil mixture. Allow the rice to toast for 2–3 minutes until a slight nutty aroma develops.

Add one ladle of warm chicken stock to the rice mixture, stirring continuously. Allow the liquid to be fully absorbed before adding another ladle. Repeat this process, one ladle at a time, for approximately 17–25 minutes, until the rice becomes tender yet retains a slight bite.

Once the rice is fully cooked and the risotto has achieved a creamy consistency, remove the saucepan from heat. Stir in the grated Parmesan cheese and season with black pepper to taste. Ensure all ingredients are well combined.

Plate the risotto while warm and creamy. For added presentation, garnish with freshly grated Parmesan or chopped parsley, if desired.