In a large pot or Dutch oven, heat the olive oil. Next, add carrots and onion to pot. Let them soften for about 5 minutes, then press in the garlic and stir until fragrant.
Add all remaining ingredients into the pot. Cover with lid, then bring to a simmer. Stir occasionally, for 30 minutes.
Serve with toppings of choice - lime wedges, shredded cheese, sour cream etc. Enjoy!