In a small saucepan, bring stock to a simmer and keep warm over low heat.

In a large pot, heat olive oil over medium-high heat. Add onions, garlic, and carrots and sauté 5 to 8 minutes or until softened. Add rice and cook for 1 minute, stirring to coat with oil. Add 1 cup of stock and stir constantly until nearly all the liquid is absorbed. Add remaining stock, ½ cup at a time, stirring constantly until each portion is absorbed and rice is tender. Add peas and asparagus and cook 5 minutes or until vegetables are tender. Remove the rice from heat and stir in cheese, salt and pepper. Garnish with more parmesan if desired.