Heat the butter and oil in a wide pan and cook the sage leaves until crisp. Remove from the pan and set aside.
Cook the diced pumpkin in the pan until lightly browned then remove about 4 tablespoons and set aside to use a garnish.
Add the shallots to the pan and cook very gently until soft but not brown.
Add the rice and stir until the rice becomes translucent then add a ladle of stock and stir until it is absorbed by the rice. Turn the heat down and continue adding the stock one ladle at a time, stirring constantly, until the rice has become creamy and just cooked through. You may need to add a little more stock or water.
Season with salt and pepper and serve garnished with the Parmesan, reserved pumpkin and sage leaves.