Preheat your oven to 225 degrees F and place a baking sheet inside to keep the finished pancakes warm.
In a large bowl, sift together the flour, sugar, cocoa powder, baking powder, and salt until the mixture is uniform.
In a separate medium bowl, whisk the milk, egg, melted butter, and vanilla extract until well blended.
Pour the wet ingredients into the dry ingredients and stir gently until just combined, then fold in the chocolate chips and pecans.
Let the batter rest for 10 minutes to allow the baking powder to activate and the batter to thicken slightly.
Heat a tablespoon of vegetable oil in a large nonstick skillet over medium heat until it shimmers.
Reduce the heat to medium-low and drop portions of batter into the pan, cooking until bubbles form on the surface and the edges look set.
Flip the pancakes carefully with a thin spatula and cook for another few minutes until the centers are firm.
Transfer the cooked pancakes to the warm baking sheet in the oven and repeat the process with the remaining batter, adding more oil as needed.
Serve the pancakes warm, dusted with confectioners’ sugar and drizzled with hot fudge sauce if desired.