By Kate Abnett BRUSSELS (Reuters) – The European Union will need 1.5 trillion euros ($1.6 trillion)per year of investments to meet its 2050 net zero emissions target, research backed by Green EU lawmakers said on Monday. The European Commission is set to recommend next week that the EU cuts net emissions 90% by 2040, from 1990 levels, and outline the huge upfront increase in investments needed to get Europe on track to have zero net emissions by 2050. Most of the funding needed for net zero – 1.16 trillion euros per year – could be secured by redirecting existing spending, much of it on pollut…