Heat a heavy bottomed enameled Dutch oven or skillet over medium-low heat until the pot radiates heat.
Meanwhile, add the bone broth to a medium saucepan and bring it to a low simmer over medium-high heat. Once a simmer is reached, reduce the heat to low-medium and keep it warm while you prepare the risotto.
Once the enameled skillet or Dutch oven is heated, add 1 ½ tablespoons of butter and 2 teaspoons of olive oil, stirring with a wooden spoon until melted and hot.
Add the shallots, cooking just until soft - about 1-2 minutes. Then add the garlic and salt, and cook just until fragrant - about 30 seconds.
Immediately pour in the arborio rice, and stir well to coat it in the oil and butter.
Stir, cooking until lightly toasted - about 2 minutes.
Deglaze the pan with ¾ cup of white wine (or bone broth), scraping up any bits at the bottom with your wooden spoon. Continue to stir until the wine is absorbed by the rice.
Add a single ladleful of bone broth to the rice, stirring and cooking until the liquid is absorbed by the rice. Then, repeat, adding a single ladle of broth at a time, until the rice absorbs the liquid. Continue, stirring constantly, until the rice is cooked to your liking and you have added the correct amount of broth to achieve your desired texture. This will take anywhere from 22-25 minutes.
Once the rice is cooked to your liking, remove it from the heat and add in the remaining 1 ½ tablespoons of butter, parmesan cheese, and pepper (to your taste). Stir until completely incorporated.
Serve immediately, with additional parmesan, pepper, and fresh parsley or basil (if desired).