Pat the beef stew meat dry with paper towels and season evenly with sea salt and black pepper.
Heat the olive oil in a heavy-bottomed pot or Dutch oven over medium-high heat.
Add the beef to the pot and sear until a brown crust forms on all sides, then remove the meat and set aside.
In the same pot, add the diced onion, chopped carrots, and chopped parsnips, sautéing for 5 minutes until slightly softened.
Stir in the minced garlic, tomato paste, dried thyme, and dried rosemary, cooking for 1 minute until fragrant.
Pour in the beef broth, scraping the bottom of the pot to release any flavorful browned bits.
Return the beef to the pot, cover with a tight-fitting lid, and reduce heat to low.
Simmer gently for 90 minutes or until the beef is fork-tender and the sauce has thickened.