In a medium saucepan, heat the chicken broth over low heat and keep it warm.
In a large skillet or saucepan, heat the olive oil and butter over medium heat. Add the chopped onion and cook until translucent, about 3-4 minutes.
Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the Arborio rice to the skillet, stirring to coat the rice with the oil and butter. Cook for about 2 minutes until the rice is slightly toasted.
Pour in the white wine and stir until it is mostly absorbed by the rice.
Begin adding the warm chicken broth, one ladle at a time, stirring frequently. Allow each addition of broth to be absorbed before adding the next. Continue this process for about 18-20 minutes, or until the rice is creamy and al dente.
While the risotto is cooking, in a separate pan, sauté the shrimp and asparagus in a little olive oil over medium heat until the shrimp are pink and cooked through, about 3-4 minutes. Season with salt and pepper.
Once the risotto is creamy and cooked, stir in the sautéed shrimp and asparagus, Parmesan cheese, lemon juice, and lemon zest. Mix well and adjust seasoning with salt and pepper if needed.
Remove from heat and let it sit for a couple of minutes before serving. Garnish with fresh parsley.