All spells have an elemental affinity. Fire deals fire damage, Blizzard deals ice damage, and Thunder deals lightning damage.
Most enemies have elemental weaknesses that can be exploited to deliver lethal attacks.Loading screen tip
The following is a list of all elements in Final Fantasy VII Remake. The element of one's attack determines the damage it deals depending on the target's weakness or resistance; if the target absorbs the element of the attack, they gain health rather than lose it. Several Magic Materia also have an element; if a character has the Elemental Materia equipped, they can pair it with said magic materia to imbue their attacks with the element, or resist against it.
Fire is the earliest accessible element. It can be used by characters with the Fire Materia equipped, and is the element of the summon Ifrit and an option for Chocobo Chick. Many human enemies are weak to it.
In "Episode INTERmission", Yuffie can use Fire Ninjutsu to imbue her ninjutsu attacks with the Fire element.
In "Episode INTERmission" Yuffie can use Ice Ninjutsu.
Lightning can be used by characters with the Lightning Materia equipped. Lightning is effective against mechanical enemies.
In "Episode INTERmission" Yuffie can use Lightning Ninjutsu.
Wind can be used by characters with the Wind Materia equipped. Wind is effective against flying enemies, and is the element of the chocobo aspect of the summon Chocobo & Moogle. It is also a command from Chocobo Chick. In Final Fantasy VII Remake Intergrade, Aero spells stick to enemies and thus always hit.