Add the asparagus pieces to a small saucepan and fill with water. Bring to a boil over medium-high setting. Cook for 2 to 3 minutes. Drain and immediately run cold water over the pieces to stop the cooking process.
Add the chicken stock plus 1-2 cups water to a large saucepan. Heat until it is steaming, but do not bring to a boil.
Add the olive oil and butter to a large, heavy saucepan and saute the shallots at a low setting for about 5 minutes. They should not be browned.
Add the arborio rice to the same saucepan and stir to blend. Allow the rice to cook for about about 5 minutes, stirring constantly. It should only just begin to brown, if at all.
Turn up the heat to a medium setting and add the wine or sherry. Cook for a few minutes to reduce a little. Stir constantly.
Add the Meyer lemon juice and stir it into the rice mixture.
Now begin to add the hot chicken stock one ladle-full at a time. Stir after each ladle of stock until it has been absorbed by the rice. The sauce should thicken as you continue to stir and add the stock and it continues to simmer.
Depending on the rice, you may not require all the stock. Taste after about 25 minutes of simmering. Once the rice is tender, you don’t need to add any more stock.
Remove from the heat once it is done and add Parmesan and Marscapone cheeses, stirring to blend in thoroughly. Add the asparagus and mix together
Season with salt and pepper.
Top with toasted pine nuts and Meyer lemon zest.