Warm the Broth: Warm vegetable or chicken broth in a medium stainless steel saucepan over low heat. Keep it hot without boiling.
Sauté the Mushrooms: Cook sliced mushrooms with olive oil and 1 tablespoon butter in a large dark skillet. Add salt, black pepper, and thyme, then transfer the golden-brown mushrooms to a white plate.
Cook the Shallot and Garlic: Melt the remaining 1 tablespoon butter in the same skillet. Add chopped shallot and cook until soft, then stir in minced garlic.
Toast the Arborio Rice: Add Arborio rice to the skillet with the shallot and garlic. Stir for 1–2 minutes until the grains are coated in butter and slightly translucent around the edges.
Add the White Wine: Pour in the dry white wine and stir with a wooden spoon. Scrape the bottom of the skillet and cook until most of the wine is absorbed.
Gradually Add the Broth: Add warm broth one ladleful at a time, stirring frequently. Show the rice simmering in a creamy liquid as it gradually becomes tender.
Stir in Mushrooms and Parmesan: Return the sautéed mushrooms to the skillet and add freshly grated Parmesan. Stir until creamy, adding extra warm broth if needed.
Garnish and Serve: Let the risotto rest for 1 minute, then serve in two off-white ceramic bowls. Finish with chopped fresh parsley and extra Parmesan, if desired.