Plastic mulch in general achieves those same goals for the most part, the red mulch plays more with the reflected light spectrum.

Red Mulch

Increases tomato yields!
Agricultural plastics technology has been brought to a new level by the US Department of Agriculture and Clemson University with the development of a reflecting red mulch film called Selective Reflecting Mulch or SRM-Red. This material, a thin plastic film, performs like black mulch, warming the soil and retaining moisture, but there is one important difference. When used with tomato crops, SRM-Red has been shown in USDA tests to increase production from 12-20% of first quality early tomatoes when compared to black mulch. This dramatic increase results from the film reflecting far-red light up into the plant. Strawberries also benefit from SRM-Red.
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