Add diced onion, minced garlic, diced carrots and olive oil to a large pot and cook for 4 to 5 minutes.
Drain and rinse kidney beans and black beans.
Add beans, tomatoes and vegetable broth to the pot. Add homemade chili seasoning mix, or a chili seasoning packet. Mix until combined.
Bring the mixture to a boil, and then reduce the heat to low. Simmer uncovered for 20 to 25 minutes, stirring occasionally. The chili will thicken during this time.
If using Impossible Burger for added protein, cook it according to package instructions in a separate skillet.
Once cooked, stir into the chili and let simmer for an additional 5 minutes.
Serve hot, garnished with preferred toppings such as shredded cheese, crackers or tortilla chips.