A new innovative water based emulsion coating is prepared with IR resist inorganic pigment blending with acrylic resin. The highlight of this formulation is to resist UV and IR radiation which reflects much of the Sun’s radiant energy - an important feature to designers, builders and building owners concerned about rising energy consumption costs and global warming. In this present work water based UV/IR resist paint is formulated in different concentrations (30, 40, 50 % of PVC) and coated over the asbestos sheet. The morphology of the coating is examined using SEM with EDx. The initial test of physical properties like specific gravity, total solid of the paint and viscosity are examined for the formulation. A UV/VIS/NIR spectrometer used to measure the % of reflectance in Asbestos sheet. The 100% reflectance observed in visible region of (400-700nm) and 95% of reflectance is observed in IR region with increasing wavelength of 700-1400nm respectively.