In a large pot, heat the olive oil over medium heat. Add the diced onion and sauté for about 5 minutes until translucent.
Stir in the minced garlic, diced red bell pepper, and diced carrots. Cook for an additional 3-4 minutes until the vegetables begin to soften.
Add the rinsed black beans, diced tomatoes with juices, chipotle in adobo sauce, ground cumin, chili powder, smoked paprika, and vegetable broth to the pot. Stir well to combine all ingredients.
Bring the mixture to a boil, then reduce the heat to a simmer. Cover and let it cook for 30-35 minutes, stirring occasionally.
Taste and season the chili with salt and black pepper as needed. If you'd like a spicier kick, add more chipotle from the can.
Once the chili is thickened and the flavors are melded, remove from heat.
Serve hot, garnished with fresh cilantro and lime wedges on the side for squeezing over the top.
Notes
Serve in rustic bowls, and sprinkle extra cilantro on top. Place lime wedges on the side for an added burst of flavor.