Heat the olive oil in a large pot over medium heat.
Add the onion and garlic, then sauté for 2–3 minutes until fragrant.
Stir in the bell pepper, carrots, and zucchini. Cook for 5–7 minutes until slightly softened.
Add the tomato paste, chili powder, cumin, smoked paprika, oregano, salt, and black pepper. Stir well to coat the vegetables.
Add the diced tomatoes, vegetable broth, kidney beans, and black beans. Mix everything together.
Bring the chili to a gentle boil, then reduce the heat and simmer for 25–30 minutes, stirring occasionally, until thick and flavorful.
Taste and adjust the seasoning if needed.
Garnish with fresh cilantro or parsley and serve hot with rice, cornbread, tortilla chips, or crusty bread.