Disclosed is a waterproofing membrane that comprises a carrier sheet, a pressure sensitive adhesive layer on one surface of the carrier sheet, and a protective coating layer on the adhesive layer. The protective coating layer comprises a highly reflective protective coating layer operative to bond to concrete cast against it, particularly one that is produced from an aqueous coating comprising an acrylic emulsion, a filler, and a white pigment. The pigment volume concentration of the filler plus white pigment is greater than or equal to 55% by volume. The protective coating layer protects the membrane against weather exposure, tolerates foot traffic and strongly adheres to concrete cast against it. Also disclosed is a waterproofing membrane comprising a carrier sheet, a pressure sensitive adhesive layer, a protective coating layer, and a highly releasable bonding layer. The preferred highly releasable bonding layer comprises nanoscale silica and a binder.