Step 1

Heat the oven to 350°F. Arrange a rack in the middle of the oven and heat to 350°F.

Step 2

Cook pancetta until crisp. Place the pancetta in a 3- to 4-quart Dutch oven over medium heat and cook until crisp, 6 to 8 minutes. Using a slotted spoon, transfer the pancetta to a paper towel-lined plate.

Step 3

Sauté onion and rice. Add the onion to the pancetta drippings and sauté until softened, about 2 minutes. Add the rice and stir until each grain of rice is coated in the pancetta drippings and begins to toast lightly, 1 to 2 minutes.

Step 4

Deglaze with wine and pour in chicken broth. Increase the heat to high and pour in the wine. Scrape the bottom of the pan to loosen any browned bits from cooking the pancetta and onion and stir constantly until no liquid remains, 1 to 2 minutes. Pour in 4 cups of the broth, stir to combine, and bring to a boil.

Step 5

Bake the risotto covered for about 15 minutes. Cover and bake until the rice is just slightly underdone, 15 to 20 minutes.

Step 6

Stir in broth, Parmesan, and butter. Take the risotto out of the oven and place over medium heat. Uncover, add the remaining 1 1/2 cups broth, Parmesan, and butter. Cook, stirring constantly, until the rice is al dente and creamy, 2 to 3 minutes.

Step 7

Finish the risotto with pesto and peas. Stir in the peas and pesto. Spoon the risotto into bowls and top with the crispy pancetta and more Parmesan cheese.