Bring a large pan of water to a boil. Add the carrots and cook until they are tender crisp, about 10 to 12 minutes. Add the pea pods to the carrots and cook until they are tender crisp, about 5 to 6 minutes more. Drain vegetables and set aside.
Melt butter in same pan. Stir in cornstarch. Return carrots and pea pods to the pan and stir in honey. Cook over medium heat, stirring occasionally, until heated through.