Emacs Lisp has supported lexical scope in its byte code compiler as an option for eons, and is starting to make more use of that. No reason why a brand new JIT couldn't follow suit.
Which is more or less the strategy in the Emacs codebase - the intention is to incrementally port to lexical binding on a per-file basis. (This is seen through the annotation -- lexical-binding:t -- at the top of many .el files.)