Bring milk to a boil in a small pot, over medium high heat. Add the grated carrots to the milk. Once the milk has come to a boil, add the oats and reduce heat to medium. Cook until most of the liquid has been absorbed, about 5 minutes.

Remove pot from heat. Add the vanilla extract, cinnamon, ginger and molasses to the oatmeal. Mix until well combined. Cover the pot and let stand for 1 minute.

Serve hot, or refrigerate overnight and serve cold. Top the oatmeal with walnuts just prior to serving.