diff --git a/Gems/ScriptCanvas/Code/Editor/View/Widgets/CanvasWidget.cpp b/Gems/ScriptCanvas/Code/Editor/View/Widgets/CanvasWidget.cpp
index e448f3ea40..dfa39b0047 100644
--- a/Gems/ScriptCanvas/Code/Editor/View/Widgets/CanvasWidget.cpp
+++ b/Gems/ScriptCanvas/Code/Editor/View/Widgets/CanvasWidget.cpp
@@ -84,9 +84,10 @@ namespace ScriptCanvasEditor
         {
             m_assetId = assetId;
 
-            EditorGraphRequests* editorGraphRequests = EditorGraphRequestBus::FindFirstHandler(m_scriptCanvasId);
-
-            editorGraphRequests->SetAssetId(m_assetId);
+            if (EditorGraphRequests* editorGraphRequests = EditorGraphRequestBus::FindFirstHandler(m_scriptCanvasId))
+            {
+                editorGraphRequests->SetAssetId(m_assetId);
+            }
         }
 
         const GraphCanvas::ViewId& CanvasWidget::GetViewId() const
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.cpp b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.cpp
index 0dcd8ebbbd..d55fcf7838 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.cpp
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.cpp
@@ -59,6 +59,7 @@ namespace ScriptCanvas
             m_script = AZStd::move(other.m_script);
             m_requiredAssets = AZStd::move(other.m_requiredAssets);
             m_requiredScriptEvents = AZStd::move(other.m_requiredScriptEvents);
+            m_areStaticsInitialized = AZStd::move(other.m_areStaticsInitialized);
         }
 
         return *this;
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.h b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.h
index 24c83b20a1..8c5da5ac07 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.h
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAsset.h
@@ -76,6 +76,9 @@ namespace ScriptCanvas
         AZStd::vector<AZ::BehaviorValueParameter> m_activationInputStorage;
         Execution::ActivationInputRange m_activationInputRange;
 
+        // used to initialize statics only once, and not necessarily on the loading thread
+        bool m_areStaticsInitialized = false;
+
         bool RequiresStaticInitialization() const;
 
         bool RequiresDependencyConstructionParameters() const;
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAssetHandler.cpp b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAssetHandler.cpp
index df7b07d37b..05b6f4397b 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAssetHandler.cpp
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Asset/RuntimeAssetHandler.cpp
@@ -94,7 +94,6 @@ namespace ScriptCanvas
             RuntimeAsset* runtimeAsset = asset.GetAs<RuntimeAsset>();
             AZ_Assert(runtimeAsset, "RuntimeAssetHandler::InitAsset This should be a Script Canvas runtime asset, as this is the only type this handler processes!");
             Execution::Context::InitializeActivationData(runtimeAsset->GetData());
-            Execution::InitializeInterpretedStatics(runtimeAsset->GetData());
         }
     }
 
@@ -157,4 +156,5 @@ namespace ScriptCanvas
             }
         }
     }
+
 }
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/ExecutionState.h b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/ExecutionState.h
index 8c2f0a67c4..89ddf178f3 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/ExecutionState.h
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/ExecutionState.h
@@ -19,6 +19,10 @@
 #include <ScriptCanvas/Execution/ExecutionStateDeclarations.h>
 #include <ScriptCanvas/Grammar/PrimitivesDeclarations.h>
 
+#if !defined(_RELEASE)
+#define SCRIPT_CANVAS_RUNTIME_ASSET_CHECK
+#endif
+
 namespace AZ
 {
     class ReflectContext;
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionInterpretedAPI.cpp b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionInterpretedAPI.cpp
index 4d7c8a2cda..bba56847ce 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionInterpretedAPI.cpp
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionInterpretedAPI.cpp
@@ -506,6 +506,8 @@ namespace ScriptCanvas
 #if defined(AZ_PROFILE_BUILD) || defined(AZ_DEBUG_BUILD)
             Execution::InitializeFromLuaStackFunctions(const_cast<Grammar::DebugSymbolMap&>(runtimeData.m_debugMap));
 #endif
+            AZ_WarningOnce("ScriptCanvas", !runtimeData.m_areStaticsInitialized, "ScriptCanvas runtime data already initalized");
+
             if (runtimeData.RequiresStaticInitialization())
             {
                 AZ::ScriptLoadResult result{};
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionStateInterpreted.cpp b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionStateInterpreted.cpp
index 9224d4f9a4..a92c13ac63 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionStateInterpreted.cpp
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/Interpreted/ExecutionStateInterpreted.cpp
@@ -6,14 +6,13 @@
  *
  */
 
-#include "ExecutionStateInterpreted.h"
-
 #include <AzCore/Asset/AssetManager.h>
 #include <AzCore/Script/ScriptContext.h>
 #include <AzCore/Script/ScriptSystemBus.h>
-
-#include "Execution/Interpreted/ExecutionStateInterpretedUtility.h"
-#include "Execution/RuntimeComponent.h"
+#include <Execution/Interpreted/ExecutionInterpretedAPI.h>
+#include <Execution/Interpreted/ExecutionStateInterpreted.h>
+#include <Execution/Interpreted/ExecutionStateInterpretedUtility.h>
+#include <Execution/RuntimeComponent.h>
 
 namespace ExecutionStateInterpretedCpp
 {
@@ -33,7 +32,29 @@ namespace ScriptCanvas
     ExecutionStateInterpreted::ExecutionStateInterpreted(const ExecutionStateConfig& config)
         : ExecutionState(config)
         , m_interpretedAsset(config.runtimeData.m_script)
-    {}
+    {
+        RuntimeAsset* runtimeAsset = config.asset.Get();
+
+#if defined(SCRIPT_CANVAS_RUNTIME_ASSET_CHECK)
+        if (!runtimeAsset)
+        {
+            AZ_Error("ScriptCanvas", false
+                , "ExecutionStateInterpreted created with ExecutionStateConfig that contained bad runtime asset data. %s"
+                , config.asset.GetId().ToString<AZStd::string>().data());
+            return;
+        }
+#else
+        AZ_Assert(false
+            , "ExecutionStateInterpreted created with ExecutionStateConfig that contained bad runtime asset data. %s"
+            , config.asset.GetId().ToString<AZStd::string>().data());
+#endif
+
+        if (!runtimeAsset->GetData().m_areStaticsInitialized)
+        {
+            runtimeAsset->GetData().m_areStaticsInitialized = true;
+            Execution::InitializeInterpretedStatics(runtimeAsset->GetData());
+        }
+    }
 
     void ExecutionStateInterpreted::ClearLuaRegistryIndex()
     {
diff --git a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/RuntimeComponent.cpp b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/RuntimeComponent.cpp
index 5fe5c32a48..930b84abe4 100644
--- a/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/RuntimeComponent.cpp
+++ b/Gems/ScriptCanvas/Code/Include/ScriptCanvas/Execution/RuntimeComponent.cpp
@@ -19,9 +19,8 @@
 #include <ScriptCanvas/Execution/ExecutionContext.h>
 #include <ScriptCanvas/Execution/ExecutionState.h>
 
-#if !defined(_RELEASE)
-#define SCRIPT_CANVAS_RUNTIME_ASSET_CHECK
-#endif
+#include <ScriptCanvas/Execution/Interpreted/ExecutionInterpretedAPI.h>
+#include <AzCore/Asset/AssetSerializer.h>
 
 AZ_DECLARE_BUDGET(ScriptCanvas);
 
@@ -112,11 +111,13 @@ namespace ScriptCanvas
 #if defined(SCRIPT_CANVAS_RUNTIME_ASSET_CHECK)
         if (!m_runtimeOverrides.m_runtimeAsset.Get())
         {
-            AZ_Error("ScriptCanvas", false, "RuntimeComponent::m_runtimeAsset AssetId: %s was valid, but the data was not pre-loaded, so this script will not run", m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
+            AZ_Error("ScriptCanvas", false, "RuntimeComponent::m_runtimeAsset AssetId: %s was valid, but the data was not pre-loaded, so this script will not run"
+                , m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
             return;
         }
 #else
-        AZ_Assert(m_runtimeOverrides.m_runtimeAsset.Get(), "RuntimeComponent::m_runtimeAsset AssetId: %s was valid, but the data was not pre-loaded, so this script will not run", m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
+        AZ_Assert(m_runtimeOverrides.m_runtimeAsset.Get(), "RuntimeComponent::m_runtimeAsset AssetId: %s was valid, but the data was not pre-loaded, so this script will not run"
+            , m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
 #endif
 
         AZ_PROFILE_SCOPE(ScriptCanvas, "RuntimeComponent::InitializeExecution (%s)", m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().c_str());
@@ -126,11 +127,13 @@ namespace ScriptCanvas
 #if defined(SCRIPT_CANVAS_RUNTIME_ASSET_CHECK)
         if (!m_executionState)
         {
-            AZ_Error("ScriptCanvas", false, "RuntimeComponent::m_runtimeAsset AssetId: %s failed to create an execution state, possibly due to missing dependent asset, script will not run", m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
+            AZ_Error("ScriptCanvas", false, "RuntimeComponent::m_runtimeAsset AssetId: %s failed to create an execution state, possibly due to missing dependent asset, script will not run"
+                , m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
             return;
         }
 #else
-        AZ_Assert(m_executionState, "RuntimeComponent::m_runtimeAsset AssetId: %s failed to create an execution state, possibly due to missing dependent asset, script will not run", m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
+        AZ_Assert(m_executionState, "RuntimeComponent::m_runtimeAsset AssetId: %s failed to create an execution state, possibly due to missing dependent asset, script will not run"
+            , m_runtimeOverrides.m_runtimeAsset.GetId().ToString<AZStd::string>().data());
 #endif
 
         AZ::EntityBus::Handler::BusConnect(GetEntityId());
@@ -179,4 +182,3 @@ namespace ScriptCanvas
     }
 }
 
-#undef SCRIPT_CANVAS_RUNTIME_ASSET_CHECK