Cook Aromatics: In a large dutch oven or pot, heat oil over medium heat. When the oil is hot, add onions and red bell peppers. Season with salt and pepper. Cook for 4-6 min, stirring often, until onions and peppers are tender.
Add the garlic, chipotle pepper, chili powder, cumin and cinnamon. Cook for 1 min, stirring constantly, until fragrant and lightly toasted.
Cook Chili: To the pot, add bay leaf, butternut squash, black beans, diced tomatoes and vegetable broth. Season with ½ tsp salt. Bring to a simmer over medium-high heat. Once simmering, reduce heat to low. Partially cover and cook for 45-50 minutes, stirring occasionally, until squash is tender and chili has slightly reduced (thickened). Cooking time may vary depending on size of squash cubes and heat level.
To create texture, mash some of the butternut squash up using a potato masher (optional). Stir in lime juice. Season with salt and pepper to taste.
Serve: Divide chili between bowls. Top with your favorite toppings, such as cilantro, crumbled tortilla chips, vegan sour cream, toasted pumpkin seeds, green chilies, jalapeno etc.