In a large skillet, heat the oil over medium heat. Add the onion, salt, and pepper, and cook for 2 to 3 minutes. Add the butter nuts quash and cook for 6 to 8 minutes.
Add the garlic, sage, and the rice. Stir and let cook for about 1 minute then add the wine. Stir and cook for 1 to 3 minutes, or until the wine cooks down.
Add the broth, 3/4 cup at a time, and stir continuously to allow each addition of broth to be absorbed before adding the next. Cook until the butternut squash is tender, and the risotto is soft and creamy. Stir in ¼ cup of Parmigiano Reggiano. Season to taste.
In a small pan cook pancetta until fat is rendered and pancetta is browned and crispy. Drain excess fat with a paper towel.
Divide risotto into bowls and top with pancetta. Garnish with sage leaves and serve with remaining grated cheese.