This paper undertakes the conceptual development of Green Sensing Virtual Enterprises (GSVEs) and their potential application environments, as goal-oriented networks that are dynamically created and composed by a short-term alliance of green enterprises with sensing capabilities, whose interactions are enabled by sensor networks and supported by computer systems, in order to answer to collaboration opportunities requiring competencies beyond those available in any single enterprise, and will evolve or dissolve once their mission is accomplished. GSVEs are seen as the organisational counterpart of intelligent assets and smart products in an emerging Dynamic Cyber-Physical Circular Economy powered by pervasive digital transformation, where the synergy of the Internet of Things (IoT) paradigm, the Sensing Enterprise (SE) capabilities and the agile and environmental-friendly nature of Green Virtual Enterprises (GVEs) will unlock the full potential of circular business opportunities.