Pour the vegetable broth into a medium saucepan and keep it warm over low heat.
In a large skillet or Dutch oven, heat 1 tablespoon of olive oil and 1 tablespoon of butter over medium-high heat. Add the sliced mushrooms and sauté until browned, about 5 minutes. Remove from the skillet and set aside.
In the same skillet, add the asparagus pieces and sauté for 2-3 minutes until they are bright green and slightly tender. Remove and set aside with the mushrooms.
Lower the heat to medium. Add the remaining 1 tablespoon of olive oil and 1 tablespoon of butter to the skillet. Stir in the chopped onion and cook until translucent, about 3-4 minutes. Add the minced garlic and cook for 1 minute until fragrant.
Add the Arborio rice to the skillet. Stir constantly for 1-2 minutes until the edges of the rice grains become slightly translucent.
Pour in the white wine and stir continuously until the liquid is fully absorbed by the rice.
Begin adding the warm vegetable broth one ladle (about 1/2 cup) at a time. Stir frequently and
During the last 2 minutes of cooking, stir in the reserved mushrooms, asparagus, and the peas.
Remove the skillet from the heat. Stir in the grated Parmesan cheese and season with salt and black pepper to taste. Serve immediately.