Heat the olive oil in a large pot or dutch oven over medium heat. Add the onions and peppers. Sauté them for 5 minutes or until they are soft.
Add the vegan ground beef, garlic, and seasoning. Cook this for another 5 minutes.
Pour in a little of the water and use it to deglaze the pot by scraping at the bottom. Then, stir the remaining water, diced tomatoes, tomato sauce, rice, bouillon, Worcestershire sauce, and brown sugar.
Bring it to a boil then reduce the heat to medium-low and simmer it covered for 20 minutes. Revisit the soup occasionally to stir it and scrape the bottom of the pot.
Take the pot off the heat and stir in the vegan cheddar and parsley. Enjoy!