I imagine this is already be done with elemental weapons, in place of anything inherent in the character skills (it could be done here too for sure. eg the Whirlwind skill could be an Air skill that will put out burning areas etc.)
With weapons you could get some neat events, such as fighting a monster using a lightning weapon while standing in a river? Critical miss? electrify the water, or flaming arrows into pools of oil.
I've yet to find any elemental weapons in the alpha but that could be due to just beginning.