Preheat your oven to 350°F (175°C). Line your baking sheets with parchment paper to prevent sticking.
In a medium bowl, whisk together the all-purpose flour, cocoa powder, baking powder, baking soda, and salt. Set aside.
In a large mixing bowl, beat the unsalted butter, vegetable shortening, light brown sugar, and granulated sugar until light and fluffy, about 3-5 minutes on medium speed.
Add the eggs, vanilla extract, and red food coloring to the butter mixture. Beat until well combined, scraping down the sides as needed.
Gradually add the dry ingredients to the wet mixture, alternating with the buttermilk. Start and end with the dry ingredients, mixing just until combined. Do not overmix.
Using a cookie scoop, drop batter balls onto the prepared baking sheets, leaving space for spreading.
Bake for 10-12 minutes or until a toothpick inserted in the center comes out clean. Let cool on the baking sheet for a few minutes before transferring to a cooling rack.