First, preheat your oven to 400°F (200°C). Cut the butternut squash in half lengthwise and scoop out the seeds. Drizzle a little olive oil, sprinkle salt, and pepper. Place them face down on a baking sheet lined with parchment paper. Roast for about 30-40 minutes until tender.

While the squash roasts, grab a small skillet and toast the pine nuts over medium heat until they are golden brown. Keep an eye on them; they can go from perfect to burnt in seconds. Set them aside when done.

In a heavy-bottomed pot, melt 4 tablespoons of unsalted butter and 2 tablespoons of olive oil over medium heat. Add the diced pancetta and let them sizzle for a few minutes, rendering their fat. Now, toss in the shallots, stirring frequently until they become soft and translucent.

Next, stir in the arborio rice. Coating the rice in the fat makes all the difference. Cook for 1-2 minutes until the rice becomes slightly translucent around the edges.

Pour in the white wine and let it simmer. Stir the mixture continuously as the rice absorbs the liquid. Meanwhile, steep the saffron threads in hot chicken broth, releasing their vibrant color and flavor.

Once the wine is mostly absorbed, begin adding the warm chicken broth, one ladle at a time. This technique allows the rice to absorb the fluids gradually, creating that creamy texture we all adore. Stir often, waiting for the broth to be absorbed before adding more.

After about 20 minutes, when the rice is al dente, fold in the roasted butternut squash, nutmeg, and the remaining butter. Gently mix everything together until creamy.

Take the risotto off the heat and stir in the freshly grated Parmigiano-Reggiano cheese. Finish it off with the toasted pine nuts for that delightful crunch.