Set your Instant Pot to the "Sauté" function. Once hot, add 1 teaspoon of vegetable oil and swirl to coat the bottom of the pot.

Add the minced garlic and diced onion to the pot. Sauté for 2-3 minutes, stirring frequently, until the onions become translucent and fragrant.

Add the diced green bell pepper, tomatoes and carrots to the pot. Continue to sauté for another 3-4 minutes, stirring occasionally, until the vegetables start to soften.

Stir in the tomato paste, coating the vegetables evenly. Add the drained and rinsed kidney beans, black beans, and frozen corn to the pot. Stir to combine all ingredients.

Pour in the vegetable broth, ensuring all ingredients are well submerged. Add the smoked paprika and ground cumin, stirring to distribute the spices evenly.

Cancel the "Sauté" function. Secure the Instant Pot lid, ensuring the valve is set to "Sealing" position.

Set the Instant Pot to "Manual" or "Pressure Cook" (depending on your model) on high pressure for 10 minutes.

Once the cooking cycle is complete, allow for a natural pressure release for 5 minutes, then carefully perform a quick release for any remaining pressure.

Open the lid and stir the chili. Taste and adjust seasoning with salt and pepper as needed.

If the chili is too thin for your liking, set the Instant Pot back to "Sauté" and let it simmer uncovered for 5-10 minutes, stirring occasionally, until it reaches your desired consistency.

Serve hot in bowls. You can top with optional garnishes such as diced avocado, vegan sour cream, chopped cilantro, or a squeeze of lime juice