This study investigated the feasibility of developing a semi-flexible pavement (SFP) by utilising recycled waste glass to partially replace ingredients in traditional asphalt pavement and the effect on performance. The results established that partially replacing cement with 15% glass powder or zeolite powder does not compromise the mechanical performance and significantly improves the reflectance. Compared with traditional asphalt pavement, the SFP with a glass block content of 40% has excellent high-temperature stability, lower surface temperature, reduced thermal conductivity, and improved thermal resistance. The glass-containing SFP was confirmed to be capable of alleviating the urban heat island effect via simulation.