Add the basil, garlic clove, and pine nuts to a food processor
Sprinkle in salt and pepper
Pulse until begins to form a paste (~20 seconds)
Removing part of the top attachment, stream in the ⅓ cup of olive oil while the food processor is running. Then add in the ice water. Stop the food processor once all the oil and water are added. Add in grated parmesan cheese. Continue to pulse for ~20 seconds until smooth pesto is formed.
Remove base of the food processor and transfer the pesto into a mason jar or air tight container. Top the pesto with a thin layer of olive oil to keep the pesto from becoming brown (ensure none of the pesto is exposed and all parts are covered). Keep in the fridge for ~1 month or freeze.