Albedo governs how much incoming shortwave solar energy a surface rejects; emissivity governs how efficiently it radiates longwave heat away. A full energy balance needs both — albedo alone tells you only half the story of why a surface is the temperature it is.
Side by side
Aspect
Albedo
Emissivity
Concerns
Incoming light
Outgoing heat
Wavelength
Shortwave
Longwave
High value means
Reflects
Radiates
Range
0 to 1
0 to 1
What each one means
Albedo
Albedo is how reflective a surface is — the fraction of the light or radiation falling on it, usually sunlight, that it bounces back instead of absorbing. In botany the same word names the white pith inside a citrus rind.